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Report: Apple's Hollywood Ambitions Bigger Than Thought

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Report: Apple's Hollywood Ambitions Bigger Than Thought

Apple Inc. (NASDAQ: AAPL)'s ambitions to enter the media creation landscape may extend beyond streaming video, as the company is reportedly interested in feature-length films made for theaters, The Wall Street Journal reported Friday.

What Happened

Apple has been in talks with cinema chains and entertainment executives to bring its content to the theaters before it becomes available on its Apple TV+, sources told WSJ.

This could help the iPhone maker increase its Hollywood presence by attracting A-list directors and producers and reverse recent setbacks.

For example, J.J. Abrams refused an offer from Apple because it doesn't yet have a movie distribution model in place, the newspaper said. 

Why It's Important

If they materialize, Apple's media plans will avoid some of the tension Netflix Inc (NASDAQ: NFLX) experiences.

Some of Netflix's movies which are showcased in theaters at the same time they are made available online.

Netflix attempted to negotiate a deal with cinemas ahead of the release of the Martin Scorsese drama "The Irishman," but failed to reach a deal related to exclusivity.

The iPhone maker wants to make a major splash in Hollywood — not necessarily as a money-making business, but to gain the prestige that comes with a high-profile theatrical release, a source told WSJ.

What's Next

Apple TV+ will be launched Nov. 1 and will offer at first a small collection of original content.

Apple shares were trading slightly positive at $220.07 at the time of publication Friday. 

Related Links

Needham's Martin Talks Apple Services, Streaming Video Competition

How Facebook, Comcast Just Shook Up The Streaming Video Wars

Posted-In: Apple TV streaming video Wall Street JournalNews Tech Media Best of Benzinga

 

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