Apple is Seeking a Theatrical Release Deal for its Original Movies prior to Airing them on Apple TV+
A new report is claiming that Apple is planning to take a different path to streaming rival Netflix and allow theatrical releases for some of its original feature-length films it has begun producing for its new Apple TV+ service.
The WSJ report, citing people familiar with the matter, states that by pursuing traditional releases for major projects, the iPhone maker hopes to make it easier to attract big-name directors and producers to its projects.
Sofia Coppola's "On the Rocks," starring Bill Murray and produced in partnership with "Moonlight" producers A24, will be among Apple's first major theatrical releases in mid-2020, it here said.
Apple, a late entrant to the streaming war, plans to launch its Apple TV+ service on Nov. 1 for $5 a month to compete with rivals such as Netflix Inc and Walt Disney’s upcoming streaming offering, Disney+.
While Apple is reportedly spending $2 billion on original content this year and working it up to $4 billion by 2022, its still dwarfed by the industry leader Netflix, which has a reported $10 billion budget for content and 151 million paid subscribers.
In the end, this could be a wise business model for Apple in order to generate greater profits and buzz for their movies prior to streaming them on Apple TV+ in addition to giving the films a better chance of being nominated for Oscars.
Archive: Apple TV News