When Apple Studios won a bidding war for Joseph Kosinski’s “F1” a little over 3 and a half years ago, some wondered if they had paid too much. At a reported production budget of $200-300 million (it’s still unclear), it was a lot to invest in a Formula One racing movie. A minor genre whose biggest box office success previously was “Ford vs. Ferrari,” a Best Picture nominee, which took in $224 million globally in 2019. Partnering with Warner Bros. as a turnkey distributor (they only paid half of P&A), that gamble appears to have paid off. The Brad Pitt drama pulled in $55.6 million at the U.S. box office and a super impressive $88.4 million internationally for a $144 million start.
With an A-grade CinemaScore in the United States, strong reviews, and an appeal to older audiences, “F1” has a shot at a long summer run. It’s the sort of big, escapist summer movie that appeals to the public who might go see a movie in theaters only two or three times a year. And, for Apple Studios, it may even break even in theaters before it ever hits Apple TV+, where it should be extremely popular with its subscribers overseas. For Warner Bros, which receives an 8% percentage of the revenue, it signals their international distribution team can still make noise overseas after the disappointing rollout of Ryan Coogler’s “Sinners” just a few months ago.
“F1” is also a significant win for Brad Pitt, ranking as his no. 2 opening of all-time after the $66 million “World War Z” found in 2013. Pitt’s last film, “Wolfs,” was unceremoniously sent to streaming by Apple without a legitimate theatrical release, while 2022′ “Babylon” was a critical and box office misfire. His next projects are David Ayer’s “Hand of the Beast,” a Paramount 2026 release, and David Fincher’s “The Adventures of Cliff Booth,” which will go into production this summer for an anticipated 2026 drop on Netflix.
Speaking of disappointments, that’s the only word to describe the $10.2 million domestic opening of “M3GAN 2.0.” That debut put it fourth behind “How To Train Your Dragon” and “Elio” domestically. Overseas, the comedy thriller earned just $6.9 million, releasing in a slew of major markets. Not good.
A sequel to the surprise $181 million worldwide hit in 2023, this Blumhouse production cost considerably more, reportedly $25 million vs. the original’s $12 million budget. It also opened under the first film’s $30 million debut. To be fair, it’s not a complete disaster. “M3GAN 2.0” still has a shot to break even. The movie earned overall better reviews than the original and a higher CinemaScore. Unfortunately, Blumhouse was looking at the campy thriller to get their profitability back on track after a super rough year so far, where “Wolf Man,” “The Woman in the Yard,” and “Drop” either bombed or significantly underperformed despite their relatively low budgets. In hindsight, the first movie may have been lightning in a bottle that was too hard to replicate and benefited from its post-Christmas, relatively uncompetitive release date. Opening during Pride Month and against “F1” in June may not have been ideal. A summer opening in August may have made more sense, or another January drop.
Luckily for Universal, “How To Train Your Dragon” is still flying high with another $19.4 million and $200 domestic. Worldwide, the rare live-action winner has taken in $454 million and appears on its way to $550 million overall.
Pixar’s “Elio” did not have the “Elemental”-type hold Disney was likely hoping for in its second weekend, taking in $10.7 million, down 49% despite a strong post-screening polling. Its U.S. gross stands at $42 million, and worldwide it’s taken in just $72 million so far.
“28 Years Later” also had a rough second weekend, down a massive 68% for $9.7 million and $50.4 million so far in the U.S. and $103 million globally. At a reported $60 million production budget, the thriller looks like it will break even, but the chances of Sony Pictures financing a third “28 Years” movie after Nia DaCosta’s “28 Years Later: The Bone Temple” arrives in January are still in doubt.
The July 4th holiday weekend frame will start on Wednesday when “Jurassic World: Rebirth” with Scarlett Johansson and Jonathan Bailey arrives in theaters.
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