As Apple seeks to navigate a rapidly shifting media landscape where original programming is becoming more and more important, the Cupertino-based company is reportedly hoping to lure users back over to the lovely confines of iTunes by focusing on movies.
According to a new report from Bloomberg, Apple is extremely interested in inking deals with Hollywood studios that would allow the company to release new movies on iTunes much earlier than normal. As it stands today, new releases don’t make their way to iTunes until about 3 months after their initial theatrical release.
Looking to turn that dynamic on its head, movie studios and Apple are reportedly entertaining the idea of narrowing that gap down to two weeks.
The most recent talks are part of longer-running efforts by Cupertino, California-based Apple to get new movies sooner, two of the people said. Such an arrangement could help iTunes stand out in a crowded online market for movies, TV shows and music. While the iTunes store helped Apple build a dominant role in music retailing, the company hasn’t carved out a similar role in music and video streaming.
Of particular interest here is that such a deal would be mutually beneficial for all parties involved. In addition to making iTunes a more appealing destination for media consumption, it would also provide Hollywood studios with another revenue stream.
Of course, the ability to rent a movie so shortly after its theatrical release would come with a hefty price, with some movie studios reportedly toying with the idea of charging consumers anywhere from $25 to $50 for a single rental.