Apple’s Review Strategy Cuts Movie Budgets After Blockbuster Spending

Apple’s Reviews Strategy Cuts Movie Budgets After Blockbuster Spending – What’s Next for Apple TV+?

Apple Inc. (NASDAQ:AAPL) is reviewing its film strategy, part of a turnaround strategy by Hollywood studio leaders Zack Van Amburg and Jamie Erlicht to control costs.

Bloomberg said Apple plans to produce a dozen movies a year, most of which will cost less than $100 million. quotes familiar sources.

Apple reportedly spent $700 million from the three blockbuster films Killers of the Flower Moon, Napoleon and Argylle, which grossed $470.4 million worldwide.

Also Read: Cinema Analyst Predicts ‘Box Office Increase in 2025’, Ratings AMC, Cinemark and More

Apple’s action comedy starring George Clooney and Brad Pitt wolves After debuting in limited venues, it began streaming on Apple TV+. Apple is considering a similar strategy for subsequent releases, including a WWII drama Raid.

But the publishing business has emerged as a battleground under leadership. Netflix Inc. (NASDAQ:NFLX), with Walt Disney Company (NYSE:EXTERNAL) And Amazon.com Inc. (NASDAQ:AMZN) is fighting for market share.

Netflix had a 22% market share in subscription video on demand (SVOD) services in the second quarter of 2024. Walt Disney Company (NYSE:EXTERNAL) streaming service Disney+ follows with 11% market share and Apple TV+ with 9% statistics.

Netflix spends $17 billion annual content and is looking at over $600 billion in revenue opportunities.

Disney has a big win in 2024 with its proven franchises Deadpool & Wolverine grossing $1.32 billion and Inside Out 2 grossing $1.69 billion worldwide. Box Office Mojo.

Comcast Corp. (NASDAQ:CMCSA) Despicable Me 4, another proven franchise, grossed $0.95 billion. Apple’s next movieF1The movie, in which Pitt will star, is planned to be released in June.

Price Action: AAPL stock was up 0.18% at $227.94 at last check on Friday.

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This article Apple’s Review Strategy Cuts Movie Budgets After Blockbuster Spending – What’s Next for Apple TV+? originally appeared Benzinga.com