Apple Is Betting a Billion Dollars on Theatrical Releases

Everybody’s favorite streaming service—no, not ad-free Netflix—is gearing up to become the next great studio coming to a cinema near you. Sources familiar with Apple’s business plans have revealed to Bloomberg that the company is spending $1 billion on its foray into film.

The anonymous sources explained to Bloomberg that Apple has approached studios about a partnership to release some of the company’s titles in theaters this year. The list of potential films includes Killers of Flower Moon from director Martin Scorsese which also stars Leonardo DiCaprio, Argylle from director Matthew Vaughn, and Napoleon from director Ridley Scott.

While Apple has previously relegated films to the company’s streaming service Apple TV+ and conducted limited released in select theaters (Like Cherry, starring Tom Holland), this would be the tech giant’s first widespread reach into film. The company is reportedly choosing to release some films in theaters to advertise Apple TV+, much the same way Netflix released its film Glass Onion in theaters before it was released exclusively on the platform.

Apple did not immediately return Gizmodo’s request for comment.

As Bloomberg notes, since Apple has approached third party studios to distribute films in the past, the company likely doesn’t have the infrastructure to distribute movies to thousands of theaters worldwide. Bloomberg says that Paramount Pictures will released Scorsese’s Killers of Flower Moon since the project originated at that studio, and will collect 10% fee for distribution.

The reported plans are part of Apple’s strategy to get a higher profile in Hollywood while also attracting more subscribers to its streaming service.