Report: Apple changes movie strategy, will rarely hold large theatrical releases

For the past few years, Apple has been making big-budget movies that rival the best traditional Hollywood studios have to offer and releasing them theatrically to boost ticket sales and awards buzz.

Much of this is about to change, according to a study report From Bloomberg. The article claims that Apple is “rethinking its movie strategy” after several box office failures. argilla And Napoleon.

The company has already canceled the wide theatrical release of the movie starring George Clooney and Brad Pitt, one of its tentpole movies. wolves. Most of Apple’s other upcoming big-budget movies will only open in a handful of theaters, suggesting the plan is simple to ensure continued awards eligibility, but not to put butts in seats.

Additionally, Apple plans to move away from super-budget movies and focus its portfolio on a dozen lower-budget movies a year. There is only one big-budget movie scheduled to be released in a large theater: F1. How this performs could shed light on future changes to Apple’s strategy.

The report states that Apple is not the only publisher that has changed its strategy. Netflix is ​​cutting costs and bringing more film production in-house; Amazon, meanwhile, is trying (unsuccessfully so far) to produce a higher volume of movies annually, but only through a mix of online and theatrical releases. It also notes that cinema chains are feeling more financial pressure than ever, as overall ticket sales have failed to reach pre-pandemic levels despite occasional events. Inside Out 2 And Deadpool and Wolverine.

Cinemas rely on streamers like Netflix and Apple to stream movies, but those hopes could be dashed if media companies continue to pull back. For the most part, tech companies like Apple and Amazon have had better luck gaining traction with television series rather than feature films.