According to a new report, Apple is adopting a new movie strategy that somewhat mirrors Netflix’s approach, prioritizing streaming releases over theatrical ones. The company aims to produce about twelve films annually, with budgets mostly under $100 million, marking a significant shift from its recent foray into big-budget productions. This change comes after some of Apple’s recent high-profile movies, such as “Killers of the Flower Moon” and “Napoleon,” failed to meet box office expectations despite their star-studded casts and substantial budgets.The new strategy involves allocating most of its film budget to producing lower-cost films directly for its streaming service, Apple TV+. This aligns with the growing trend among streaming platforms to focus on exclusive content to attract and retain subscribers. However, Apple plans to maintain its commitment of spending $1 billion annually on films. While most new releases will be streaming exclusives, the company will still aim for a couple of major theatrical releases each year.These theatrical releases, such as the upcoming Formula One racing drama, “F1,” will likely be exceptions to the rule, accompanied by larger budgets and wider marketing campaigns. They will likely have limited runs, primarily serving to fulfill award eligibility requirements and comply with Hollywood’s traditional expectations. This strategy aligns with Apple’s recent handling of the film “Wolfs,” which received a one-week limited theatrical release before its Apple TV+ debut.
This Netflix-inspired approach could have several implications for Apple and the film industry. For Apple, it may lead to a more sustainable film production model, allowing them to create a wider variety of content while minimizing financial risks. It could also bolster the appeal of Apple TV+, attracting more subscribers with exclusive film releases.
Brad Pitt and George Clooney in ‘Wolfs’ on Apple TV+. | Image credit — Apple
For the film industry, Apple’s move could further accelerate the shift towards streaming as the primary distribution platform. This may lead to more opportunities for filmmakers to create diverse and innovative content, but it could also challenge the traditional theatrical model.
I have to say, I’m intrigued by Apple’s strategic shift. I’m eager to see how this focus on streaming-first films impacts the quality and variety of content on Apple TV+. Will it lead to more award-winning titles like “CODA,” or will it result in a flood of sub-par releases? Only time will tell. It will also be interesting to see if this strategy influences other studios and further shapes the future of film distribution.
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