Apple may collaborate with movie studios to release more movies, which could cost $1 billion per year. Apple's original films have typically only been available on Apple TV+ or had limited theatrical runs. As a result, the streamer's strategy would be significantly altered as a result of the potential investment.
The news was reported by Bloomberg, and anonymous sources claim that Apple's plans have not yet been finalized. But the company wants to show the movies for at least a month in thousands of theaters.
According to Bloomberg, some potential releases include "Killers of the Flower Moon," directed by Martin Scorsese and starring Leonardo DiCaprio; Napoleon by Ridley Scott and Argylle, a spy thriller,
Be that as it may, the Scorsese film is fairly discrete, revealed 9to5Mac, as Apple evidently paid about $200 million on the creation freedoms from Vital a long time back. Before the film premieres exclusively on Apple TV+, Paramount will distribute "Killers of the Flower Moon" to cinemas worldwide for a few months.
The streamer may face increased competition from other streaming services if Apple implements the plan. For instance, it is said that Amazon, which acquired Metro-Goldwyn-Mayer in 2022, plans to spend $1 billion annually on movies for theaters and produce 12 to 15 films for theatrical release each year.
Recently, Warner Bros. Discovery announced that it plans to release additional exclusive films in theaters. This is because, according to CEO David Zaslav during the February earnings call to shareholders, the company discovered that releasing movies as exclusives on HBO Max did not add any value. Central and Disney likewise plan to increase their development of motion pictures for theaters.
Additionally, considering that theatrical releases aid in the promotion of both the movie and the streaming service, the potential investment is likely to result in an increase in Apple TV+ subscribers. People who are unable to attend a movie usually wait until the movie is available on streaming services. Apple TV+ is expected to have between 20 and 40 million subscribers, according to analysts.
The only streaming service to win the Oscar for Best Picture so far is Apple TV+. In 2021, the organization won the Oscar for "CODA," which it obtained at the Sundance Film Celebration for $25 million. The film was circulated at the same time in theaters and Apple TV+, just getting about $1.9 million in the cinema world.
The domestic box office is expected to reach $9 billion in 2023, indicating that the film industry is showing some signs of improvement this year.