Apple TV+ will spend $1 billion annually on movie releases for theaters

Killers of the Flower Moon promotional frame

Apple TV+ is reportedly looking to make more original movies, as well as partnering with other studios to distribute them in extended runs.

Apple not only released its CODA movie to theaters for the first time, but also re-released it later to celebrate winning the Best Picture Oscar. However, no Apple TV+ movie has had more than a limited run in theaters or been shown on more than a few hundred sites, and that could change now.

According to Bloomberg, Apple Original Films plans to spend $1 billion a year to produce films that are called blockbusters. In addition to spending on the production budget, the money will be used to release the films in thousands of theaters through an as-yet unconfirmed distribution company.

The intention is reportedly to give significant films an exclusive theatrical run for at least one month before they hit Apple TV+. This may not mean that all movies will be released within a month, but it gives Apple a choice and acts as an advertisement for the streaming service.

It also means Apple TV+ should be more likely to win awards. Although the rules vary, the Oscars generally require films to be shown “for at least seven consecutive days in the same commercial theater, during this period screenings must occur at least three times a day from at least one beginning display. daily from 18:00 to 22:00.

The film will reportedly be The Flower Moon Killers, directed by Martin Scorsese and written by Scorsese, Eric Roth and David Grann. However, in this case, the theatrical release is believed to have been a condition for Apple to obtain the streaming rights.