'F1' is Apple's highest-grossing theatrical film ever

Apple's "F1: The Movie" has generated more than $293 million at the global box office, the most of any film released theatrically by the company. "F1" has generated $60 million of its total global haul from IMAX theaters, a little more than 20% of its total gross so far

In this articleAAPL your favorite stocksCREATE FREE ACCOUNTStill from Apple's "F1. "AppleLights out and away we go. "F1: The Movie" hasn't even reached the checkered flag of its theatrical run, but it's already Apple's best film release ever

The film, distributed by Warner Bros

This outpaced Ridley Scott's "Napoleon," which generated $221 million during its run in 2023, to become Apple's highest-grossing theatrical release

The company has only sent a handful of films to cinemas with wide releases since delving into the media in recent years. "Killers of the Flower Moon" tallied $158 million worldwide, "Fly Me to the Moon" took in just $42 million and "Argylle" generated $96 million in ticket sales globally. "'F1' is an extremely important movie for Apple and for the industry at large," said Paul Dergarabedian, senior media analyst at Comscore. "It's a perfect test case for how a ing service can develop a film that's tailormade for the big screen while simultaneously moting the film across the millions of small screens that their nological foot puts directly in front of their rs. ""F1" has benefited greatly from its partnership with IMAX

Before duction, Apple and the film's top creatives reached out to not only secure the use of IMAX's camera nology, but also a three-week release in its theaters

In fact, the "F1" deal meant that Universal's "Jurassic World Rebirth" didn't get a domestic IMAX release and was only on IMAX screens in China

That film will also appear in IMAX screens in Japan next month. "F1" has generated $60 million of its total global haul from IMAX theaters, a little more than 20% of its total gross so far

The movie cost between $200 million and $300 million to make, according to reports, and an estimated $100 million to market

The studio is also splitting receipts with Warner Bros

And theaters. "Naturally, a mega budget movie 'F1' can have a rather long road to fitability given the various revenue splits with movie theaters and Warner Bros

As well, but Apple has the resources to and the cash reserves to take on that risk," said Dergarabedian

For Apple, success looks very different than for traditional studios

Entertainment isn't the company's main revenue driver — not even close

And Apple isn't just spending money on movies and television ducts to try and fuel sales of its phones, TVs and computers. "We got into this because we thought it would be a good," Apple services chief Eddy Cue said in a recent Bloomberg interview. "And in order to continue to do great things, you need es to be fitable. "Apple has gained momentum in the pop culture space with shows "Ted Lasso," "Severance" and "The Studio" and was the first er to win the best picture award at the Oscars for 2021's "Coda. "Don’t miss these insights from CNBC Bank of America says buy these five stocks that are set to rally in the second halfStay away from these two big U