The film is titled Cha Cha Real Smooth, which is written and directed by its lead star, the 24-year-old Cooper Raiff.
A release date for Cha Cha Real Smooth, which Johnson also produces, is yet to be announced.
Apple bought cha Cha Real Smooth for $15m, which is $1m less than it coughed up for CODA, which looks set to receive a Best Picture nomination when they’re announced on 8 February.
Still, Cha Cha Real Smooth leaves the festival as the biggest hit, with its $15m surpassing that of Searchlight/Hulu’s $7.5m for Sophie Hyde’s Good Luck To You, Leo Grande, which stars Emma Thompson and Daryl McCormack.