Apple to Invest $1 Billion Annually in Theatrical Film Releases

Apple plans to spend $1 billion a year on theatrical film releases as part of its efforts to raise its profile in Hollywood and attract subscribers to its streaming service, Apple TV+. Cinema stocks, including Cinemark, IMAX, and AMC, jumped on the news. The commitment to longer theatrical releases is a way for Apple to appease talent and drum up awareness for its streaming platform, estimated to have between 20 million and 40 million users. Martin Scorsese's "Killers of the Flower Moon," Matthew Vaughn's "Argylle," and Ridley Scott's "Napoleon" are on the short list for these longer theatrical runs.