Apple rethinks strategy after Scarlett Johansson’s new film flops

Apple is reassessing its strategy in the film industry after the disappointing performance of Fly Me to the Moon, a $100 million romantic comedy starring Scarlett Johansson. Despite the hefty investment, the film has grossed less than $40 million, marking it as one of the summer's biggest financial flops. This failure has contributed to Apple’s mounting losses in the entertainment sector, where it has spent around $20 billion since 2019.

Apple's foray into the film industry has been marked by high-profile projects featuring big-name stars like Martin Scorsese, Ridley Scott, and Leonardo DiCaprio. However, the company is now reconsidering its approach as these costly ventures have yet to yield the expected returns. “Apple has been looking for ‘the next big thing’ for some time, and it can’t find it,” said Fernando del Moral, head of the Apple news site La Manzana Mordida.

As part of its strategy shift, Apple will limit theatrical releases for upcoming films, such as Wolfs, starring Brad Pitt and George Clooney, to just a seven-day run before moving them to Apple TV+. This move, aimed at cutting costs, reflects the company's need to find a sustainable balance between prestige projects and financial viability.

While Apple has found success in television with shows like Ted Lasso and Killers of the Flower Moon, it has struggled to compete in the highly competitive streaming market. Despite receiving 72 Emmy nominations this year, the company is now focusing on reducing costs and refining its content strategy to ensure its investments pay off.