Apple spent $700 million to produce and market three movies that grossed $466 million worldwide, and now claims those movies are profitable.
The three films, with their individual worldwide grosses, are Ridley Scott’s Napoleon ($221 million), Martin Scorsese’s Killers of the Flower Moon ($157 million), and Argylle ($88 million).
Because of how the math works, with theaters taking at least half of the box office, Apple shelled out $700 million and earned about $250 million. That’s a $450 million loss.
Apple isn’t complaining, at least not about “Killers” or “Napoleon.” A studio source says both films are profitable, buoyed by ancillary revenue streams. Both ranked among the 10 highest-grossing films of the past year on the Apple app store, with “Killers” holding the top spot for four weeks. It’s too early to tell how “Napoleon” is faring on Apple TV+ — it debuted March 1 — but “Killers” is off to a strong start as the most-viewed film on the platform over its first 45 days of release, driving new subscriptions in the process.
Yeah, no. Even at the height of the DVD craze—that magic moment when Hollywood produced movie after movie people wanted to own—it was very rare for a title to gross more on home video than it did in the theater.
So I find the idea that pay-per-view brought in another half-billion (with a “B”) dollars for three box office failures a little hard to swallow.
For a trillion-dollar company like Apple, a loss of $450 million is peanuts. I also get how Apple would look at the loss as a worthwhile investment that gives the company the prestige of prestige products and boosts subscriptions for its ailing streaming service. But the idea these movies squeaked out a profit is absurd.
This Emperor Has No Clothes scheme of hiding the truth about how unpopular movies are today is becoming more laughable by the minute.
Here’s another counterintuitive truth bomb for you…
In a healthy box office ecosystem, movies like Napoleon and Killers of the Flower Moon would make MORE box office money due to their status as streaming-only titles.
This is something the sycophants in the entertainment media will never tell you. In fact, they will lie and tell you the opposite, that streaming-only titles hurt their box office potential because everyone knows they will soon be available on streaming.
What nonsense.
The following logic is infallible…
For decades, movie fans have known that every theatrical release would eventually be universally available on home video (VHS, DVD) and then on HBO or Showtime. Somehow, those movies still made money, and that “somehow” is that movies suck today, and they didn’t then.
Today, you’d better see a movie like Napoleon, Killers of the Flower Moon, or Argylle in theaters because you might never see it if you don’t. Theatrical is your only option unless you subscribe to Apple TV+, which most people don’t. Streaming-only movies never arrive in your local Redbox, nor will they show up on Netflix, Amazon, HBO, or Showtime. So if you want to see Dreamy Leo murder Indians, you must go to the movies.
This new exclusivity should increase box office revenue, not decrease it.
Never thought of that, did you?
Big Thinks are why I’m overpaid.
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