The present application discloses a backlight module and a display apparatus with the backlight module. The backlight module includes a substrate, a plurality of light sources, and a plurality of reflectors. The reflectors are arranged on the peripheries of the light sources. The surfaces, facing the light sources, of the reflectors are multi-stage curved surfaces. Light emitted from a side surface of the light source basically emits in the vertical direction after being adjusted by the multi-stage curved surface of the reflector, so as to collimate the light emitted from the light source, prevent the light emitted from the lighted light source on the periphery from irradiating an unlighted area nearby, and prevent light leakage. By using the reflector with this structure, in internal space formed in the reflector, the light in the internal space formed by each reflector is uniform, improving the optical grade of the display apparatus.