Apple To Splash $1 Billion a Year on Films To Break Into Cinemas

Apple plans to spend $1 billion a year to produce movies that will be released in theaters, Bloomberg News reported Thursday, citing people familiar with the company's plans, part of an ambitious effort to raise its profile in Hollywood and lure subscribers to its streaming service. From the report: Apple has approached movie studios about partnering to release a few titles in theaters this year and a slate of more films in the future, said the people, who asked not to be identified because the plans are private. The list of potential releases includes Martin Scorsese's Killers of the Flower Moon, which stars Leonardo DiCaprio; the spy thriller Argylle, from director Matthew Vaughn; and Napoleon, Ridley Scott's drama about the French conqueror. The investment is a significant increase from years past. Most of Apple's previous original movies have either been exclusive to the streaming service or released in a limited number of theaters. The company has pledged to put movies in thousands of theaters for at least a month, said the people, though it hasn't finalized any plans.

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