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Apple to Spend $1 Billion a Year on Films to Break Into Cinemas

Apple plans to spend $1 billion annually to produce movies that will be released in theaters, part of an ambitious effort to raise its profile in Hollywood and lure subscribers to its streaming service.

1 min read
  • Apple plans to spend $1 billion annually to produce movies released in theaters.
  • The company aims to raise its profile in Hollywood and lure subscribers to its streaming service.
  • Apple approached movie studios about partnering for theatrical releases.
  • The investment is a significant increase from previous years.
  • The company views theaters as a way to build awareness for its TV+ streaming service.
Apple to Spend $1 Billion a Year on Films to Break Into Cinemas
Apple Inc. plans to spend $1 billion a year to produce movies that will be released in theaters, according to people familiar with the company’s plans, part of an ambitious effort to raise its profile in Hollywood and lure subscribers to its streaming service.
BloombergThomas Buckley

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