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Apple TV Plus to invade theaters with $1 billion annual theatrical release budget

Published Mar 23rd, 2023 11:11AM EDT
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Image: Apple

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Apple is committed to hitting theaters with its original productions thanks to a $1 billion budget per year for theatrical movie releases. According to people familiar with the company’s plans heard by Bloomberg, the company wants to “raise its profile in Hollywood and lure subscribers to its streaming service.”

Unnamed sources have stated that Apple has initiated discussions with movie studios to collaborate on the release of a number of titles in cinemas during this year, as well as a collection of additional films in the future. The insiders, who requested anonymity due to the confidential nature of the plans, revealed that the potential lineup of movies includes Martin Scorsese’s Killers of the Flower Moon featuring Leonardo DiCaprio, Matthew Vaughn’s spy thriller Argylle, and Ridley Scott’s French conqueror drama titled Napoleon.

Bloomberg says Apple plans to give movies at least a one-month exclusive theatrical window before arriving at Apple TV Plus. Although not all movies will get this option, it will help the company promote its streaming service.

Another benefit of this change could be Apple getting more chances to win awards. The Oscars, for example, typically require films to have had a theatrical run of at least seven consecutive days. This plan is similar to what Amazon has in mind, which also announced it would spend $1 billion per year on theatrical movies.

According to Bloomberg, Apple is seeking to collaborate with established movie studios to manage the global distribution of their films in theaters, as they do not possess sufficient internal knowledge in this area. However, Apple has not yet come to a final agreement with a partner studio, including details such as the marketing budget allocation and distribution commission.

Besides movies, Apple is also aiming to expand its sports offering. The English Premier League is among the live sports deals the company plans to close. BGR will keep reporting on Apple’s plans regarding its TV Plus streaming service.

José Adorno Tech News Reporter

José is a Tech News Reporter at BGR. He has previously covered Apple and iPhone news for 9to5Mac, and was a producer and web editor for Latin America broadcaster TV Globo. He is based out of Brazil.