Apple plans to take a different path from rival Netflix in the streaming market. According to the Wall Street Journal, the company wants to release the movies it produces for the Apple TV + service in theaters before bringing it to streaming.
- Apple launches video platform
Citing people familiar with the issue, the newspaper said that by seeking traditional releases for major projects, the iPhone maker hopes to make it easier for renowned directors and producers to attract its projects.
Apple would be more interested in the prestige and brand building that a theatrical debut could bring than the financial returns, according to the publication.
Sofia Coppola's film "On the Rocks" starring Bill Murray and produced in partnership with A24's "Moonlight" movie will be among the first major movie releases in mid-2020 by Apple. , the company would be thinking of a premiere at the Cannes Film Festival.
Apple, a belated participant in the streaming war, plans to launch Apple TV + on November 1 this year for $ 5 a month. Netflix and the upcoming Disney + streaming service are among the top competitors.
Netflix has a different strategy for its movies. Alfonso Cuarón, for example, won Best Director Oscar for "Roma" this year, despite a limited theatrical release.
Apple is investing $ 2 billion in original content this year, but is still overshadowed by industry-leading Netflix with a budget of $ 10 billion in content and 151 million paid subscribers.
Apple did not respond to a Reuters request to comment.