In a bold move to boost its reputation in Hollywood and entice customers to its streaming service, Apple Inc. plans to invest $1 billion annually in the production of films that will be released in theaters.
According to the people, who declined to be named because the plans are confidential, Apple has approached film studios about collaborating. This could enable them to distribute a few films in theaters this year and a slate of further movies in the future. The list of probable releases also includes Ridley Scott's Napoleon and Martin Scorsese's drama Killers of the Flower Moon, which stars Leonardo DiCaprio. Apple's spokesman declined to comment.
The investment represents a huge increase from prior years. The majority of Apple's prior original films have either been released exclusively on the streaming service or in a small number of cinemas. In spite of the fact that no plans are in stone, the company has promised to screen movies in thousands of theaters for a minimum of a month.
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