Apple TV+ is reportedly rethinking its approach to theatrical releases following the anticipated release of “F1,” a high-budget racing drama starring Brad Pitt. The film, set to premiere in June 2025, could be Apple TV+’s last major theatrical release. Despite being the first streaming service to win a Best Picture Oscar with “CODA” in 2022, Apple has faced disappointing box office returns with other films like “Killers of the Flower Moon”.
Decline in Box Office Success
Apple initially had ambitious plans to release high-profile films in theaters, but those ambitions have been scaled back after several underwhelming performances. Films like “Wolfs,” starring George Clooney and Brad Pitt, were expected to make a splash in theaters. Instead, Apple decided to cut the film’s theatrical run short, focusing on a streaming release.
Now, industry insiders speculate that “F1” will be a critical test for Apple’s movie strategy. The film, made in partnership with Warner Bros., carries a massive budget of around $300 million. Its success, or failure, could determine whether Apple continues to pursue theatrical releases or shifts entirely to streaming.
A New Focus on Streaming
Should “F1” fail to perform, Apple is likely to focus on producing more mid-budget films in the $100 million range. This would allow Apple to produce around a dozen films a year while spending $1 billion annually on original content. This move away from theatrical blockbusters could benefit Apple, as mid-budget films have seen a decline in recent years due to the dominance of major franchise movies.
Industry Response
The shift in Apple’s strategy could also affect how talent views working with Apple TV+. Stars like George Clooney and Brad Pitt have expressed disappointment in Apple’s decision to shorten the theatrical release window for “Wolfs.” This dissatisfaction could make it more challenging for Apple to attract top talent in the future.
Apple TV+’s decision on whether to continue theatrical releases hinges on the success of “F1.” As streaming platforms and theaters continue to compete, Apple’s evolving strategy will be one to watch.
