Apple plans to increase its spend on movies for Apple TV+ to $1 billion annually, as well as release them in theaters globally, Bloomberg reports.
The Apple TV+ movies "CODA" and "Cherry" debuted in select theaters for a few weeks in 2021, but Apple apparently plans to instigate broader, more conventional theatrical releases in the future, facilitated by bigger movie budgets. The move is designed to raise the profile of Apple TV+ in Hollywood, attract subscribers, and create "cultural events."
Apple is believed to have already approached several third-party distributors about collaborating to release Apple TV+ titles in theaters this year, including Martin Scorsese's "Killers of the Flower Moon," Matthew Vaughn's "Argylle," and Ridley Scott's "Napoleon." The movies are expected to be in theaters around the world for at least a month. Apple is purportedly looking to third-party studios owing to its lack of expertise in movie distribution across thousands of cinemas worldwide, but it has concerns around the hefty fees and marketing budgets that such partners would demand.
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However, I’m aware that just as most of us can walk and chew gum at the same time, Apple can structure itself to do more than one aspect of its business well. At least I hope so.
But I do wonder what’s going on over there every time I hear they’re putting a billion here, a billion there, and it’s not towards their hardware or what I always thought of as their core business. Like what did their $1 billion investment in Didi Chuxing ultimately gain them and us consumers?
I just wonder how these things pan out once the headlines fade and the returns are tallied up.