Apple has decided to scale back its plans to release movies in theaters after experiencing disappointing box office results for several big-budget films, such as Killers of the Flower Moon, Napoleon, and Argylle. Initially, the company intended to spend $1 billion annually on movies for theatrical release. However, Apple will now focus more on streaming, releasing select films like Wolfs on Apple TV+ after limited theater runs. This strategy shift reflects a broader cost-cutting initiative, with Apple aiming to make more films under $100 million while reserving big-budget films, like the upcoming F1, for occasional wide releases.
This change comes amid similar rethinking at Netflix and Amazon, as all three tech companies continue to figure out how to balance their movie and streaming strategies. For Apple, the success of its strategy may hinge on the performance of the high-profile F1 movie, with a reported budget exceeding $300 million.
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Discussion (2)
Honestly, this shift could be a great opportunity for creators, especially those who thrive in the mid-budget range. With less pressure to deliver massive box office numbers, filmmakers might have more room to experiment and tell stories that wouldn’t get greenlit otherwise. Streaming platforms like Apple can be a breeding ground for more niche, creative projects that don't need to cater to a wide theatrical audience
Even Apple with its massive budget is deciding to pull back from theaters..
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