Apple reportedly intends to spend $1 billion (roughly Rs. 8,200 crores) per year on film production for theatrical release, and the company has talked about collaborating on such titles for release this year and in the coming years. Already contacted the film studio. According to a recent report, the company intends to screen the films in thousands of theaters for at least a month, reversing its earlier policy of original content and limited box office releases. However, the details are still being worked out.
According to a Bloomberg report, Martin Scorsese’s Killers of the Flower Moon, Matthew Vaughn’s Argyll and Ridley Scott’s Napoleon are among the possible films the company could release theatrically.
As per the report, the move is part of the Cupertino-based tech giant’s efforts to boost its profile in Hollywood and attract customers to its streaming platform, Apple TV+. Typically, Apple has either released films directly to its streaming site or given limited runs in select theaters to qualify the release for Academy Award nominations. The Apple-produced film CODA won the Best Picture award at the Oscars 2022.
According to the report, Apple is looking to collaborate with established film production companies to handle global theatrical distribution instead of managing it internally due to the lack of expertise in this area. The report added that it is still trying to finalize agreements such as budget sizes for partner studios and commercialization such as distribution commissions.
It also suggests that this is separate from Apple’s currently ongoing plans for an Apple Original Films unit, as the Paramount contract originated from agreements a few years earlier when Apple acquired the development rights to Killers of the Flower Moon from the studio. had bought
Apple has reportedly paid nearly $200 million (roughly Rs. 1,600 crores) for the eagerly awaited Scorsese production, with the film expected to premiere at the Cannes Film Festival in May, with a few months to go before actually streaming. There will also be a wide theatrical release. Apple TV+ Platform.
The company’s dedication to long-term theatrical releases is a way for it to appease Hollywood stars who want to see their work on the big screen, as well as raise awareness of its subscription service, which is estimated to be around 20 million copies. million and has 40 million users. Much less than rivals Netflix and Disney+, according to a report by CNBC.
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