Apple Inc. is planning to spend $1 billion a year on movies that will be shown in theaters, according to a new report, as part of a bid to boost subscribers for its streaming service and become a bigger player in Hollywood.
Bloomberg News reported Thursday that Apple AAPL,
Upcoming Apple movies include “Killers of the Flower Moon,” starring Leonardo DiCaprio and Robert De Niro, and directed by Martin Scorsese; “Argylle,” starring Henry Cavill and Bryce Dallas Howard, and directed by Matthew Vaughn; and “Napoleon,” starring Joaquin Phoenix and directed by Ridley Scott.
Releasing movies in theaters would not only create a new revenue stream for Apple, but could create more pop-culture buzz when they eventually move to streaming, where many of its current, streaming-only movies have found it difficult to find a wide audience.
Bloomberg also reported that Apple may bid on rights to stream English Premier League soccer in the U.K., in a move to compete head to head with the trio of companies that hold Premier League broadcast rights through the 2024-’25 season: Amazon’s AMZN,
The Premier League wouldn’t come cheap for Apple; the league’s current deal for domestic broadcast rights sold for $6.3 billion.