- Apple plans to spend $1 billion a year to produce movies that will be released in theaters.
- The investment is a significant increase from years past.
- Apple approached movie studios to release a few titles in theaters this year.
- Apple views theaters as a way to build awareness for its TV+ streaming service.
- Apple still hasn’t figured out how it will distribute these movies in theaters.
Bloomberg — Tech — Streaming Service — Technology — Movies — Hollywood
Apple to Spend $1 Billion a Year on Films to Break Into Cinemas
Apple is planning to spend $1 billion a year on films to raise its profile in Hollywood and has approached movie studios to release titles in theaters this year.