Apple is celebrating what could be its first real box office triumph. Known for its award-winning Apple TV+ films, the company still holds the only Best Picture Oscar awarded to a streaming service production — the 2022 winner “Coda” — despite rivals like Netflix investing millions in awards campaigns.

In theaters, however, Apple’s record has been mixed at best. The costly “Argylle” was a notable failure, and last year, reports surfaced that Apple had chosen to tighten budgets and limit theatrical releases. This shift led to the cancellation of some projects and criticism from notable filmmakers.

In a promotional push for the latest project, CEO Tim Cook appeared with Lewis Hamilton on the cover of Variety, touting the company’s unique contributions, including its camera technology. Cook stressed that the movie had the full backing of Apple’s operations, from corporate to retail. Not all audiences were receptive to the aggressive marketing tie-ins.

While early indicators suggest success, the question remains whether “F1” — with a reported budget north of $200 million — will deliver profits in theaters. A box office analyst told Vulture that the film, even if popular, might ultimately be remembered more as an expensive showcase for Apple TV+ than a money-making blockbuster.