📱Apple Is Scrapping Its Big Plans To Release Movies In Theaters
⏺Apple is rethinking its movie strategy following disappointing box office performances for several big-budget films. Apple has canceled plans to release Lone Wolves, the action-comedy starring George Clooney and Brad Pitt, in thousands of theaters around the world. Instead, the film debuted in a limited number of theaters before becoming available on the Apple TV+ streaming service on September 27.
⏺Apple plans to take a similar approach with its next few films, including the World War II drama Blitz. The change in film strategy is part of a larger reboot at Apple's Hollywood studio, led by Zach Van Amburg and Jamie Erlicht. Having spent over $100 million, and in some cases over $200 million, on several of the aforementioned films, Apple will now focus on producing just over 10 films per year, most of which will be produced for less than $100 million
⏺The tech giant intended to spend $1 billion annually on films for theaters. This means that Apple's commitment to spend this amount will not change, but the composition of the company's film slate and release strategy will change
Apple will still aim to make one or two major motion pictures a year with films that are exclusively greenlit for higher budgets, such as Formula 1. However, films like Lone Wolves, for which Clooney and Pitt collectively earned tens of millions of dollars, will be shown on the Apple TV+ streaming service.
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⏺Apple is rethinking its movie strategy following disappointing box office performances for several big-budget films. Apple has canceled plans to release Lone Wolves, the action-comedy starring George Clooney and Brad Pitt, in thousands of theaters around the world. Instead, the film debuted in a limited number of theaters before becoming available on the Apple TV+ streaming service on September 27.
⏺Apple plans to take a similar approach with its next few films, including the World War II drama Blitz. The change in film strategy is part of a larger reboot at Apple's Hollywood studio, led by Zach Van Amburg and Jamie Erlicht. Having spent over $100 million, and in some cases over $200 million, on several of the aforementioned films, Apple will now focus on producing just over 10 films per year, most of which will be produced for less than $100 million
⏺The tech giant intended to spend $1 billion annually on films for theaters. This means that Apple's commitment to spend this amount will not change, but the composition of the company's film slate and release strategy will change
Apple will still aim to make one or two major motion pictures a year with films that are exclusively greenlit for higher budgets, such as Formula 1. However, films like Lone Wolves, for which Clooney and Pitt collectively earned tens of millions of dollars, will be shown on the Apple TV+ streaming service.
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