Apple is preparing to become a major studio that will distribute movies in theaters. Sources familiar with Apple’s business plans told Bloomberg that the company is spending $1 billion on its foray into film.
Anonymous sources told the publication that Apple approached the studios with a proposal for a partnership to release some of the company’s projects in cinemas already this year. The list of potential films includes Martin Scorsese’s Killers of Flower Moon, starring Leonardo DiCaprio, Argylle from director Matthew Vaughn, and Napoleon from director Ridley Scott.
Apple has previously put movies on its Apple TV+ streaming service and released them in limited quantities in select theaters (such as Cherry starring Tom Holland), but this would be the tech giant’s first widespread reach into film. The company is reportedly choosing to release some films in theaters to advertise Apple TV+, much the same way Netflix released its film Glass Onion in theaters before it was released exclusively on the platform.
As Bloomberg notes, since Apple has approached third party studios to distribute films in the past, the company likely doesn’t have the infrastructure to distribute movies to thousands of theaters worldwide. Bloomberg says that Paramount Pictures will released Scorsese’s Killers of Flower Moon since the project originated at that studio, and will collect 10% fee for distribution.