Apple wants to spend $1 billion on movies annually. The goal is to get to the theaters
Until now, the brand’s original films were either exclusive to the streaming service or restricted to a few theaters. The company wants the films to be shown in thousands of theaters for at least a month.
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Apple plans to spend a billion dollars [cerca de 919 mil milhões de euros] annually to produce films to be released in theatres. The news is provided by Bloomberg, which cites insiders on the matter. The investment is much higher than in previous years.
The same source said that the company headed by Tim Cook will already contact some cinemas for movie premieres this year. The list of potential premieres includes such works as Martin Scorsese’s “Killers of the Flower Moon”, Matthew Vaughn’s “Argylle” or Ridley Scott’s “Napoleon”. Apple declined to comment.
Until now, Apple Original Movies have been exclusive to the streaming service or limited to a few theaters. And the company is committed to showing the films in thousands of cinemas for at least a month, the same source reveals, indicating that no plans have been finalized yet. It has not yet been decided how the films will be distributed.
The increased investment aims to raise the brand’s profile in Hollywood and attract subscribers to its streaming service, Apple TV+, bolstering its position against competitors like Netflix, HBO Max, Amazon Prime or Disney+. The platform has an estimated 20-40 million subscribers, less than its competitors.
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