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

  • Tech giant is committing to multiple theatrical releases
  • Company will use theaters to market its streaming service
Bloomberg business news
Apple to Spend $1 Billion a Year to Break Into Movies
Updated on

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.

Apple has approached movie studios about partnering to release a few titles in theaters this year and a slate of more films in the future, said the people, who asked not to be identified because the plans are private. The list of potential releases includes Martin Scorsese’s Killers of the Flower Moon, which stars Leonardo DiCaprio; the spy thriller Argylle, from director Matthew Vaughn; and Napoleon, Ridley Scott’s drama about the French conqueror. A spokesperson for Apple declined to comment.