Apple to invest $1 billion annually in movie production for theatrical releases.

Apple plans to spend $1 billion annually to produce movies for theatrical release, a departure from its previous strategy of streaming exclusives and limited box office releases. The company has approached movie studios about partnering on certain titles for releases this year and in the future, with potential films including Martin Scorsese’s "Killers of the Flower Moon," Matthew Vaughn's "Argylle," and Ridley Scott’s "Napoleon." The move follows a similar plan by Amazon to invest $1 billion to produce 12-15 movies a year exclusively for theaters. The news sent shares of theatrical giants like AMC, IMAX, and Cinemark higher in early trading.