Apple launches Formula One movie starring Brad Pitt, F1, to boost Apple TV+ content library.

From NASDAQ.: 2024-07-08 09:34:00

Apple Inc. unveiled details about its upcoming Formula One movie starring Brad Pitt, named F1, set to release on Jun 27, 2025 in the U.S. theaters. The film received a sneak peek at the British Grand Prix, possibly costing around $250 million.

F1 will be available on Apple TV+ post-theatrical release, contributing to Apple TV+’s strong content library. Apple TV+ maintained the top IMDb rating of 7.01 out of 10 in 2021, 2022, and 2024. Additionally, Apple has a lineup of theatrical releases for 2024, aiming to boost its content base.

Apple TV+ had an 8% market share in the SVOD market in the U.S. in Q1 2024, trailing leaders like Amazon Prime Video and Netflix. The top streaming programs in the U.S. were Bridgerton and Bluey, suggesting strong competition in the streaming space.

To counter competition, Apple is expanding its content offerings, enhancing quality, and launching games on Arcade. With a low-priced subscription model and backing from Apple Inc., Apple TV+ aims to capture more audiences globally, presenting a strong player in the entertainment industry.

Apple’s entertainment offerings face fierce competition but hold advantages like a rich content base, low-priced subscription model, and financial backing. In Q1 2024, Apple set a record high in services revenue at $23.9 billion, showcasing growth in its services segment.

Apple’s stock has seen a 17.6% rise in the year-to-date period, slightly outperforming the industry average. The company is well-placed to compete with giants in the industry, backed by its strong financials and market position.



Read more at NASDAQ.: Apple (AAPL) Names Brad Pitt-Starrer Formula One Movie F1