Apple to Invest $1 Billion Annually for Hollywood Theatrical Releases

According to reports, Apple is planning to allocate $1 billion annually to release films in theaters.

Although Apple TV+ is still behind streaming competitors like Netflix, Disney+, and Prime Video in terms of total subscribers, it recently made history by being the first streaming service to win the coveted Best Picture award with the film CODA, a heartwarming coming-of-age drama.

Alongside its film ventures, Apple TV+ has also made waves in the television streaming world with the critically acclaimed comedy Ted Lasso and the highly anticipated drama Severance, which have both won Emmy awards.

Apple is apparently setting its sights on Hollywood by planning to spend $1 billion annually on releasing movies in theaters, according to Bloomberg.

This move is seen as a way to boost the profile of the company in Hollywood and attract more subscribers to its streaming service. Although Apple has not commented on the reported plan, it is evident that the tech giant has ambitions beyond its successful small screen streaming service.

According to reports, Apple’s reported plan to spend $1 billion a year to release movies in theaters represents a significant increase in investment compared to past years. Most of Apple’s original movies have been exclusive to their streaming service or have received limited theatrical releases.

However, this new plan would allow their films to have more traditional theatrical rollouts in thousands of theaters nationwide for a minimum of one month. Prior to this report, Apple had already been discussing partnerships with major studios to release titles in theaters as early as this year.

Martin Scorsese’s highly anticipated film Killers of the Flower Moon, starring Leonardo DiCaprio, is one of the titles Apple has been eyeing on for a potential partnership with big studios. The film, which tells the story of murders that took place in the Osage Nation during the 1920s, is set to become another noteworthy collaboration between Scorsese and DiCaprio.

It is expected to make waves during awards season and could premiere at the Cannes or Venice Film Festival. The film is set to be co-distributed by Apple TV+ and Paramount and will have a theatrical release later this year.

Apple is eyeing to release two other potential movies in theaters, including Argylle featuring Henry Cavill and Ridley Scott’s Napoleon with Joaquin Phoenix. The spy thriller Argylle, directed by Matthew Vaughn, is poised to launch a franchise, while Napoleon is a reunion for Phoenix and Scott after their work on Gladiator.

Both films are expected to be in contention for awards in the upcoming seasons, and it would make sense for Apple to generate buzz for these titles by giving them the advantage of a theatrical release.