Bloomberg reported that Apple is retreating from its major plan of wide theatrical movie releases after some of its high-budget films failed to meet the box office expectations.
Reports suggest that Apple had initially set aside a massive amount of $1 billion annually to produce big-budget films for cinemas to compete with traditional Hollywood studios. Presumably, the company wanted to release a string of successful films to increase box office receipts, garner major accolades, and boost its reputation within the motion picture business.
Movies like Argylle (Matthew Vaughn), Napoleon (Ridley Scott), and Killers of the Flower Moon (Martin Scorsese) were not as successful as anticipated at the box office. Consequently, it has been reported that Apple is now reducing these plans, putting more emphasis on using restricted release windows to earn awards and promoting its films mainly as streaming titles.
The decision to postpone the action comedy Wolfs, starring George Clooney and Brad Pitt,’s wide international release, was one of the most significant indications of this change. Originally, the movie was supposed to have a wide theatrical release in thousands of theatres worldwide. Rather, it debuted in a small number of theatres before going live on Apple TV+ for streaming on September 27.
It has been reported that Apple’s management has been attempting to control expenses throughout its entertainment sector. The company will reportedly stick to its $1 billion annual film budget, but it will now prioritize making fewer big-budget pictures, fewer theatrical releases, and lower average production costs. Apple will continue to produce about a dozen films per year, most with budgets under $100 million, according to sources familiar with the company’s plans.
Only one or two major titles each year will receive larger budgets and wide theatrical releases, such as Brad Pitt’s upcoming film F1 set for release globally in June 2025. With a reported $300 million production budget, F1 is expected to be Apple’s most expensive film to date.
