Apple allegedly designated a billion dollars to create exclusive movies for theatres, further cementing its status as an entertainment leader.
Streaming titans are endeavoring to revolutionize their production process. Apple is allocating one billion dollars to produce cinematic films released exclusively in theatres. According to Bloomberg, Apple follows Amazon’s lead by having 12-15 movies per year. This echoes Amazon’s commitment to becoming a film powerhouse.
Eric Wold, a media and entertainment industry analyst from B. Riley Securities, mentioned that multiple streaming platforms are the biggest concern. The film industry is returning to its classic cinema form, reinforcing the enduring significance of theatrical releases. Wold proclaims, “There’s an advantage to streamers to put movies into theaters. You can get incremental revenue from other wells compared to streaming.
Though there are numerous benefits to pushing the boundaries of creativity, it can also be precarious as audiences become more discerning. With their inconsistent offerings, streaming powerhouses like Apple and Amazon must deliver captivating content consistently. Despite the strategic changes necessitated by COVID-19, both companies are still eager to produce for theatrical release. As we await to see if Apple and Amazon will measure their ticket sales through the conventional method or another approach, one thing is sure: they will make a splash in the ticketing industry. As the industry continues to explore ways of integrating streaming projects into large-scale screens, how these models will shift is still being determined.
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