Apple has recently completed a deal to have a racing-themed movie appear on its streaming platform.
Apple acquired the rights to a Formula One racing film which will be directed by Joseph Kosinski. The movie will also star renowned Hollywood actor Brad Pitt.
The untitled racing movie will first appear in theaters exclusively for 30 to 60 days before appearing on the Apple TV+ platform.
However, in a surprising twist, Apple film producers will split the earnings from theater showings 50-50, with the creative team getting theatrical backends, buyout fees and upfront fees.
The Hollywood Reporter said that Apple spent about 5 months to seal the deal. Kosinski will be reunited with notable producers Jerry Bruckheimer, Chad Oman and Ehren Kruger, who did work on ‘Top Gun: Maverick’.
Apple TV+ ‘The Tragedy of Macbeth’ and ‘Wolfwalkers’ also saw theatrical releases the same way as the untitled Formula One themed film.