Apple's $1 Billion Theatrical Movie Push Sends Cinema Stocks Soaring
TL;DR Summary
Cinema stocks rose after reports that Apple plans to spend $1 billion annually on producing movies for theatrical release. Apple has hired former Disney exec Ricky Strauss to join Apple TV+ and has indicated its desire to follow Amazon's lead with a $1 billion theatrical movie push. As Apple does not own a Hollywood studio, it plans to partner with major studios for distribution. The move could help Apple TV+ increase its subscriber base and attract more Hollywood names and titles to its movie slate.
- Cinema Stocks Jump Amid Report Apple Plans $1 Billion Theatrical Movie Push Hollywood Reporter
- Apple to spend $1 billion making movies for theaters, matching Amazon: Report Yahoo Finance
- Apple to Spend $1 Billion a Year to Break Into Movies Bloomberg Television
- Movie theater stocks pop after report says Apple plans to spend $1B a year on releases CNBC
- Apple Is Betting a Billion Dollars on Theatrical Releases Gizmodo
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