Apple’s plan to spend $1 billion per year on movies means more theatrical releases

CODA aside, Apple TV Plus has yet to really become synonymous with hit movies the way the company clearly wants it to. But rather than simply acquiring the distribution rights to more promising projects, Apple’s next move to boost its streaming platform’s profile involves making a bigger push into physical theaters in coming years.

Bloomberg reports that Apple has plans to spend $1 billion annually to produce more original films that will have theatrical releases in thousands of cinemas running for a month at a minimum — a move meant to get audiences used to thinking of Apple Studios and Apple TV Plus as serious players in the movie game. While no plans have been finalized or announced just yet, Apple — which is relatively new to the…

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