Apple to spend $1 billion annually on movies, aiming for major theatrical releases

Apple TV+ became the first streaming service to win the prestigious Oscars Best Picture award last year, for Sundance acquisition CODA, but its overall film slate has been somewhat underwhelming so far. Via Bloomberg, that may be set to change as Apple is significantly expanding its original films division to focus on blockbuster titles that will debut widely in theatres first, before arriving on the streaming service. Apple will purportedly spend $1 billion annually on its movie slate.
Read more: https://9to5mac.com/2023/03/23/apple-to-spend-1-billion-annually-on-movies-aiming-for-major-theatrical-releases/?source=Snapzu