Apple to bankroll Oscar-worthy movies at a clip of $5-$30 million per project
Driven yesteryear Netflix’s recent spate of Oscar nominations, Apple’s global video programming squad reportedly wants to cure its collective Oscar envy as well as brand a big splash inward Hollywood yesteryear bankrolling a bunch of Oscar-worthy movies at a charge per unit of measurement of $5 i thou m to $30 i thou m per project.
Apple’s novel cinema ambitions were described yesteryear a source every bit beingness “Focus Features-esque honor contenders,” referring to critically acclaimed movies similar “BlacKkKlansman,” “Boy Erased” as well as “Dallas Buyers Club.” The society is said to hold upward looking to fund half dozen small-budget films.
New York Post has the story:
Since announcing plans to compete alongside Netflix inward March, Apple has been busy alongside a novel project: financing half dozen small-budget movies a yr alongside an oculus toward stories that could win Academy Awards, sources accept told The Post. Hollywood sources enjoin the tech giant has been approaching ‘elevated’ directors as well as other cinema talent inward recent months to speak nearly bankrolling projects alongside Oscar-winning potential.
‘They are taking meetings as well as hiring,’ i means source said of Apple, adding that the meetings are beingness generated yesteryear the company’s master characteristic films unit, headed yesteryear Matt Dentler, formerly of iTunes Movies.
Bloomberg reported inward March that the Cupertino society would travel out zero to chances when it came to awards. According to writers Anousha Sakoui as well as Mark Gurman, Apple fifty-fifty hired PR specialists as well as strategists to aid it woo Hollywood insiders as well as win prestigious awards, such every bit the Oscars as well as Emmys.
While the main focus of the Apple TV+ service is TV shows, that doesn’t hateful that Apple isn’t interested inward making characteristic movies. For instance, it secured rights to multiple painting demo projects (including “The Elephant Queen” as well as “Wolfwalkers”), is working alongside Cartoon Saloon on an animated painting demo as well as cutting a bargain alongside indie amusement studio A24 (behind the 2017 Academy Award-winning cinema “Moonlight”) to produce a slate of films for the service, including a projection directed yesteryear Sofia Coppola as well as starring Bill Murray as well as Rashida Jones.
Its search for small-budget films allegedly isn’t related to the multi-year understanding alongside A24.
Apple’s service volition launch alongside its ain master material, facing an uphill battle non merely from the likes of marketplace incumbents similar Netflix as well as HBO but also newcomers similar Disney, whose upcoming streaming service will undercut everyone as well as launch alongside an unmatched library of high-quality content. According to New York Post, Apple’s executives accept been internally debating whether to larn a library of content from around other political party or not.
“They are literally anxious as well as clueless nearly what they actually desire to do,” i source said. “Half the civilization hates them making content as well as the other one-half wants to run into stars.”
At whatever rate, alongside $250 billion of cash on its hands as well as $60 billion per yr generated inward costless cash flow, Tim Cook & Co. could surely afford to license sum libraries of movies as well as tv shows from the likes of Sony Pictures, Lionsgate, MGM or A24.
What are your feelings on Apple entering the movie-making business?
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