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Apple has moved a long way from its core business by launching its own streaming service at the end of 2019, but that doesn’t stop the manufacturer from having ambition. Apple TV+ wants to establish itself as the platform for the greatest directors and the most prestigious actors, to watch at home but also in the cinema. Several Apple TV+ films were released in theaters before being offered for streaming. But after several flops, this strategy was revised downwards.
Good year after year, Apple spends around 1 billion dollars each year (!) to supply its streaming service with fresh content: films, TV series, documentaries, cartoons. Money that irrigates the entire Hollywood industry, and of course Apple TV+ is not alone in the streaming market; Netflix and Amazon spend lavishly.
Glitter is no longer enough to shine on the big screen
From the start, Apple’s strategy was clear: stars, big names and glitter, which means big bills to produce all this content. To amortize these expenses, the manufacturer regularly relies on the release of its productions in cinemas.
Several advantages to this: a trip to the cinema allows you to build media hype (ideal for publicizing the service and recruiting new subscribers), it is also necessary to participate in the statuette ceremonies. Apple TV+ was the first streaming service to win an Oscar in 2022, with CODA. And then there is always a little side of glamor that is always good to have for a platform that prides itself on prestige.
Without forgetting, of course, the box office which puts butter in the spinach! But the results are often not there. Several of the big Apple TV+ productions released in theaters in recent months have not lived up to expectations: Argyle, Fly Me to the Moon, Napoleon or even Killers of the Flowers Moon hardly reported.
Wolfthe new blackbuster with George Clooney and Brad Pitt, was originally supposed to be released in theaters: finally, the film is available today in streaming for Apple TV+ subscribers. Bloombergreports that the Apple firm has decided to significantly scale back its cinema sector; only one or two productions will be entitled to it each year from now on, when the film has the possibility of having an impact and generating revenue.
This will be the case in June with F1another film with Brad Pitt, whose estimated budget would be around 300 million dollars! In fact, it would be a little less thanks to tax reductions and sponsorship contracts but still… A successful theatrical release would allow production costs to be amortized to a minimum.
In fact, Apple TV+ would come closer to the strategies of its competitors, Netflix and Amazon in the lead, for whom theatrical releases are very limited and often for technical reasons. For the rest, Apple has decided not to go beyond $100 million per film, which would allow it to produce around ten feature films per year.
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Bloomberg
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