The highly anticipated Formula 1 movie featuring Brad Pitt has performed exceptionally well during its cinema debut. F1: The Movie raked in a staggering $144 million worldwide during its opening weekend – a record for a film with Pitt in the lead role. The first weekend’s revenue is typically a crucial indicator of a blockbuster’s future success.
The film premiered worldwide on Friday, June 27, strategically timed just before the Austrian Grand Prix. F1: The Movie had a particularly strong start in North America, where the cinema release alone generated $55.6 million. Internationally, an additional $88.4 million was added. In countries such as the United Kingdom ($9.2 million), China ($9 million), Mexico ($6.7 million), and France ($5.4 million), the film was even the top-performing title of the weekend.
High Costs
The commercial start exceeded all expectations, especially considering that F1: The Movie deals with a relatively niche theme. The film revolves around the fictional APX GP team and combines Hollywood glamour with the intense reality of Formula 1. With a production budget of around $200 to $300 million and a marketing campaign of another $175 million, producer Jerry Bruckheimer and film studio Apple were aiming for a worldwide hit.
However, this blockbuster is not just about box office revenue. Apple is also using the film as a trump card to attract subscribers to its streaming service, Apple TV+, later on. Moreover, costs have been partly offset thanks to smart sponsorship agreements. For instance, the fictional APX GP team uses various prominent sponsors from the real world. Formula 1 itself, which has received a powerful business card with F1: The Movie, also has a stake in the project.
