After Amazon, Apple also plans to spend $1 billion a year on theater movies
To attract more users to use Apple Inc. (Apple Inc..), the company plans to spend $1 billion a year to produce movies that will be shown in theaters.。
It is understood that in order to attract more users to use Apple Inc. (Apple Inc..), the company plans to spend $1 billion a year to produce movies that will be shown in theaters.。The plan is part of Apple's ambition to expand the scale of its business, aiming to raise its profile in Hollywood.。
A person familiar with the matter said that Apple has now approached the film company, hoping to release a few films in theaters this year, and more films will be released in the future。It has been revealed that possible films to be released this year include Martin Scorsese's Flower Moon Killer, Matthew Vaughan's spy thriller Argyle, and Ridley Scott's play about the French emperor Napoleon。
Apple has significantly increased its investment in the streaming business in recent years compared to the past few years。Previously, most of Apple's original movies were either exclusively streamed or released in a limited number of theaters。But now Apple promises to follow up with previously exclusive films in thousands of theaters。
While Apple intends to increase the visibility of its Apple TV + streaming service by entering the film and television industry, this path is not easy。Because in the face of industry big brothers like Netflix and Disney +, Apple doesn't seem to have much confidence。In particular, Disney, as the number one Hollywood manufacturer, the company has a wealth of production experience and professionals, and its strength in cinema film production is not comparable to that of other platforms.。
It is estimated that Apple TV + currently has between 20 million and 40 million users, while Netflix and Disney + have both exceeded 200 million users.。
In fact, Apple has been funding movies since the beginning of Hollywood Studios.。Since winning the Best Picture Oscar for "CODA" in 2021, the smartphone maker's ambitions in the movie space have grown.。Apple bought the film for a record $25 million at the festival and released it simultaneously in theaters and on Apple TV +.。However, "CODA" did not perform well in theaters and on Apple TV +, bringing in only $2 million for Apple.。
In addition to Apple, another Silicon Valley giant is also adding to its streaming business。Last November, Amazon announced plans to spend more than $1 billion a year on making movies and releasing them in theaters.。After buying Metro-Goldwyn-Mayer, the studio behind the James Bond films, for $8.5 billion, Amazon aims to produce 12 to 15 films a year and release them in theaters.。
Following the news, some media said that the investments by these tech giants could help the U.S. box office return to pre-epidemic levels。Paramount, Disney and Warner Bros. have all said they still want to increase movie production in theaters after trying to distribute movies only through streaming services。
In addition, there has been recent news that Apple is still considering bidding for the broadcast rights to the Premier League。In order for the tech giant to broadcast Premier League games in the UK and lower division of the English Football League on Apple TV +。
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