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The encyclopedia · Product & Design · Product decision · 2020–2023

Killers of the Flower Moon: Apple's $215M Scorsese epic grossed $158M

Apple spent $215M on Scorsese's epic; it grossed $158.8M worldwide, and Deadline put the theatrical net loss near the film's full production budget.

Apple · 2023-10-20

What happened

Killers of the Flower Moon — Martin Scorsese's three-and-a-half-hour epic about the Osage murders, produced by Apple Studios and distributed theatrically by Paramount — cost an estimated $215 million, including about $40 million in COVID-related costs, per Variety. It premiered at Cannes in May 2023 and opened in the US on October 20.

It grossed $68.1 million in the United States and Canada and $90.7 million overseas, a worldwide total of $158.8 million — well short of its cost. In February 2024, Deadline reported the film fell about $20 million short of covering its marketing during the theatrical run, leaving a net loss for Apple roughly equal to its $200 million production budget.

Apple pushed back on the accounting: a studio source told Variety the film was profitable once streaming value and subscriptions were counted, and Apple TV+ cited it as a driver of new sign-ups. The tension is the point — a film can lose money at the box office and still be judged a win by a streamer that measures in subscribers.

Why it happened

  • The film was made for the platform, not the cinema: at $215M for a three-hour prestige drama, the theatrical release was never going to clear its costs.
  • The runtime and subject priced out the wide audience: a 206-minute historical drama about a massacre needed awards-season patience, and general audiences chose lighter October fare.
  • Apple's model removed the gate: with no studio P&L discipline, a $215M drama could ship on reputation alone, and the theatrical loss became a subscription subsidy Apple was willing to pay.
What it cost$215M budget vs $158.8M gross; theatrical loss ~$200Mcostly

The lesson

When the box office is marketing, the loss is the product: Apple's $215M film was designed to feed Apple TV+, so the $158.8M theatrical gross was a subsidy, not a failure.

Sources

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