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Apple Suffers a Box Office Flop with “Argylle”

Apple (NASDAQ:AAPL) dove head-first into the so-called “streaming wars” with the launch of Apple TV+ in November 2019. It met with early success, and was the beneficiary of good timing, as the COVID-19 pandemic confined millions of consumers to their homes. However, the years that followed the pandemic saw this climate normalize and Apple was forced to navigate a highly competitive environment that include legacy powerhouses like Netflix and newcomers like Amazon.

The company’s film production really kicked into high gear in 2022 and 2023 with releases like The Greatest Beer Run Ever, Spirited, and Emancipation in the former year and movies like The Beanie Bubble, Killers of the Flower Moon, and Napoleon in the latter year.

Argylle, the Matthew Vaughn-directed spy action comedy, received a considerable marketing push ahead of its early February 2024 release date. Apple reportedly acquired the film for a whopping $200 million. The film boasted a star-studded cast that includes Bryce Dallas Howard, Sam Rockwell, Bryan Cranston, Henry Cavill, Dua Lipa, and John Cena.

Despite the public push and the abundance of big stars, Argylle only managed to pull in $34.3 million worldwide since its release last week. That means the film will have a steep hill to climb to break even considering the hefty price tag that Apple had to fork over to obtain it. Argylle has also been met with negative critic reviews. It holds a paltry 34% positive critic reception on Rotten Tomatoes. However, it has managed to garner solid audience reviews.