Los Angeles, California – Apple Original Films’ recent $200M acquisition of the movie “Argylle” has not proven to be a major hit at the box office. The film’s opening weekend saw only $16.5M in box office earnings, along with a C+ CinemaScore and 3 stars on Comscore/Screen Engine’s PostTrak. Despite being backed by a tech giant with a $2.87 trillion valuation, the film’s performance has raised questions about the profitability of such high-budget productions.
The underwhelming performance of “Argylle” has prompted industry insiders to question Apple’s strategy in the film industry. Despite its financial resources, the company’s large-scale movie productions have not translated to significant box office success. Many wonder how Apple has managed to escape financial repercussions, especially given the declining overall box office numbers in recent years.
While Apple’s foray into wide theatrical releases has garnered some appreciation from the exhibition industry, the lackluster performance of its big-budget films raises concerns about the company’s long-term strategy. Questions have also surfaced about the effectiveness of these films as drivers of global subscriptions for Apple TV+.
The movie “Argylle,” directed by Matthew Vaughn, stars a high-profile cast and had a wide release in theaters. However, early reviews and box office numbers suggest that it may not reach the expected levels of success. In comparison, other recent releases such as “The Beekeeper” and “Mean Girls” have outperformed “Argylle” at the box office.
Despite these setbacks, the future of Apple’s film strategy remains uncertain. The company’s approach to big-budget productions as a means of attracting subscribers to its streaming platform raises questions about the profitability and effectiveness of such investments in the long run. As the film industry continues to evolve, the performance of “Argylle” may prompt Apple to reevaluate its approach to content production and distribution.