Apple could spend billions on movies and the Premier League

The league’s current domestic broadcast rights deal sold for $6.3 billion.

Bloomberg reports that Apple wants to change its cinematic strategy. That’s why the tech giant plans to spend $1 billion a year on movies as part of its push to grow the streaming service’s subscribers and become a bigger player in Hollywood, according to a new report.

Bloomberg News according to its meaning Apple has a stellar film business and won the Academy Award for Best Picture in 2022 for CODA, but so far it has largely only offered its films on the streaming service, with some limited release exceptions, to win awards or to receive a highly rated talent award.

Upcoming Apple films include Killers of Flower Moon, starring Leonardo DiCaprio and Robert De Niro and directed by Martin Scorsese; “Argyle,” starring Henry Cavill and Bryce Dallas Howard, directed by Matthew Vaughn; and “Napoleon,” starring Joaquin Phoenix and directed by Ridley Scott.

Not only will releasing movies in cinemas be a new revenue stream for Apple, but it could also fuel interest in pop culture when they eventually move to a streaming service, as many existing streaming-only films have struggled to find a wide audience.

Bloomberg also about it mentioned, that Apple may bid for the rights to broadcast the Premier League soccer tournament in the UK, putting it in competition with the trio that owns the Premier League broadcast rights through to the 2024-25 season: Amazon, Prime Video, Comcast, Sky and BT Sports. The deal will not affect the rights to broadcast the English Premier League in the United States, where the league is available through Comcast Peacock. Apple TV+ is currently home to Major League Soccer — after a 10-year, $2.5 billion deal — and broadcasts Major League Baseball on Friday nights. The English Premier League will not be cheap for Apple; The university’s current deal for local broadcast rights sold for $6.3 billion.

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