In July 2023, on the Silverstone grid, Max Verstappen exchanges handshakes with Brad Pitt, while Damson Idris stands between them.
The still-unnamed Brad Pitt F1 movie is set to become one of the most expensive ever made, according to a report from a Hollywood specialist publication.
Joseph Kosinski, the director of Top Gun: Maverick, is currently working on a movie that was announced in 2021. This film features Brad Pitt and Damson Idris, and tells a fictional story set in the world of Formula 1.
Costs stack up for Brad Pitt F1 movie
According to Hollywood-focused and American powerhouse publication Puck, the untitled F1 movie’s budget has swollen to over $300 million – making it one of the most expensive movies ever made.
Pitt stars as Sonny Hayes, a retired F1 driver, in the movie’s storyline. The plot revolves around Sonny coming out of retirement to take on the role of a mentor to Joshua Pearce, portrayed by Idris.
Tobias Menzies, Kerry Condon, Javier Bardem, and Lewis Hamilton are also part of the cast. The project began in 2021 and is being produced for Apple. However, the film currently lacks a title, distributor, or any proposed release date.
According to the report, there are a few reasons as to why the movie is set to become one of the most expensive ever made. At $300 million or more production cost, this would place it just outside the top 10 most expensive ever, tied in 11th place with Pirates of the Caribbean: At World’s End, Justice League, and Star Wars: The Last Jedi.
Costs are rumored to have skyrocketed due to the unfortunate timing of production commencement, which coincided with the SAG-AFTRA strike and significantly inflated expenses.
Furthermore, the movie production has decided to cast genuine actors who will be driving authentic racing cars. This was already showcased at the previous year’s British Grand Prix, where Pitt took the wheel of a modified Mercedes F2 APXGP car belonging to “his team” during the Formula 1 race weekend, albeit not during a competitive session.
The increasing expenses indicate that the movie might encounter difficulties in generating profit, particularly due to its niche subject matter of Formula 1.
The publication centered on Hollywood estimated that a movie needs to earn 2-2.5 times its budget to reach the break-even point. This implies that the film must generate a minimum of $600 million in box office revenue, but it is more likely to fall between $750-900 million in order to break even.
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If the unnamed F1 movie is to make a profit, Pitt’s star power will have to be at its peak since only 54 movies have crossed the $1 billion box office mark and only 71 have surpassed $900 million.
The main attraction of the movie is Pitt, along with the current surge in popularity of F1. However, it faces the challenge of not being associated with a well-established major franchise, unlike many of the highest-grossing movies in history.
If the movie is to turn a profit, based on the reported budget, it would have to be Pitt’s career highest-grossing movie. His record to date is the 2013 film World War Z, which brought in $540 million at the box office.
The movie will benefit greatly from the immense global popularity of F1, which is largely attributed to Liberty Media’s efforts and their active involvement in digital and social media platforms. The increasing audience numbers in the United States further contribute to this advantage.
Additionally, considering it’s an Apple production, the success of the movie won’t solely depend on its theatrical release. This is because the film will also be available on Apple TV, and the box office earnings will be utilized for distribution and advertising expenses.
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