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F1: The Movie Box Office Success Is Great For Apple And Cinema, Says Vue
@Source: forbes.com
F1: The movie was filmed for IMAX and uses a 1.90:1 aspect ratio for its entire runtime - and has ... More enjoyed the best opening weekend so far for an Apple Original movie released in theaters.
Apple Studios
As all F1 fans know, the start is all-important. Even for the driver in pole position, if they’re slow off the mark as the lights go out, they could be beaten to the first corner, and instead of dominating, suddenly they are struggling to keep up. It’s the same for movies. While there are exceptions, all too often, if things don’t go to plan on the opening weekend, as far as the headlines go, its race is run, and the movie is deemed a flop.
It’s great news, then, that F1: The Movie has enjoyed a successful launch, taking $55m in the USA and Canada and over $140 million worldwide in its opening weekend. The movie was shot with IMAX digital cameras and presented in the IMAX 1.90:1 aspect ratio for its whole length, so it’s no surprise that IMAX contributed $28 million of that opening figure, accounting for 19% of the total.
This makes it the most successful global opening for an Apple-backed movie release so far, out-pacing Napoleon (2023) with $78.8 million and Killers of the Flower Moon (2023) with its $44 million (worldwide opening weekend).
The success of F1: The Movie has delighted Eduardo Leal, the group regional director of screen content for Vue, who said in a statement, “Grossing over $140 million worldwide, we expect the excitement to continue to build ahead of this weekend. The success of F1 is also incredibly exciting for the industry. We hope the success of F1 will encourage Apple to bring more of its films to cinemas in the future so that everyone has the opportunity to experience these amazing stories.”
The critical word, though, here is “hope”. While Netflix is renowned for its limited support for theatrical release, Amazon has expressed more commitment, and with the success of the movie, Leal is hoping Apple will be encouraged to do the same.
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Cinema is still struggling to get back to pre-pandemic levels, with the rise of streaming one of the key reasons for this. The big streaming players make movies not out of love for the theatrical experience but because they want to publicize the content for their streaming services. While they will not be averse to the movie, they have invested in taking money in the cinemas, it’s not their primary concern. “Subscriber acquisition and retention” is the mantra.
And when Apple CEO Tim Cook told Variety in June regarding financing the movie, “I don’t have it in my mind that I’m going to sell more iPhones because of it,” one can’t help but feel that’s a little disingenuous. After all, iPhone 15 Pro components were used to construct a bespoke camera that was fitted to the cars, which could offer cinema-grade quality racing images while withstanding the forces of the cars being driven around the track. In addition, the Apple ProRes codec was used as its dynamic range gave the filmmakers the flexibility to color-grade the footage to match that captured from the main camera used, such as the Sony Venice 2.
Whatever the motivations behind this movie, though, the immediate financial success of F1: The Movie will hopefully be taken as a positive so that the streaming giants are more likely to bring their original movies to the big screen first — where they belong.
Further reading:
IMAX With Laser Coming To 80 AMC Cinemas Locations
Which Cinema Format Should You Choose For ‘Jurassic World Rebirth’?
Vue And Barco Partner To Bring Laser Projection To Over 1000 Screens
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