A new report indicates Apple is readying a major push into theatrical releases in the near future.
Bloomberg reports that the tech giant has plans to spend $1 billion annually to produce more original films. These films will have wide theatrical releases in thousands of cinemas and run in cinemas exclusively for a one month minimum.
The aim is to get audiences used to thinking of Apple Studios and Apple TV+ as serious players in the movie business and try and replicate some of the success they’ve had on the TV side with shows like “Ted Lasso” and “Severance”.
Most of Apple’s film success so far have been acquisitions, including its Best Picture Oscar winner “CODA,” but with several high-profile original films of its own on the way the time has come to stretch beyond just streaming.
No plans have reportedly been finalized or announced just yet with Apple said to be in talks with other studios about partnerships to potentially ease the process.
Ridley Scott’s Napoleon” starring Joaquin Phoenix, and Matthew Vaughn’s thriller “Argylle,”starring Dua Lipa and Henry Cavill are reportedly being considered for the first wave of Apple films to run in cinemas. There’s little doubt Martin Scorsese will want an exclusive theatrical run for his “Killers of the Flower Moon” too.
The news, which follows on from Amazon recently announcing its own intention to invest $1 billion annually in films that will have theatrical releases, has already been well received by the market in Apple stock trading today.
