A while ago, Apple allocated a budget of 1 billion dollars to the world of cinema and started making high-end works. Some of these films released beyond Apple TV+ were also released in theaters. But did these movies meet Apple’s expectations?
Apple films flopped at the box office
Apple’s recently released movies have had lower-than-expected box office receipts. New reports suggest the company wants to bring them to more people through rentals and purchases.
Apple has made three movies – Killers of the Flower Moon, Napoleon and Argylle: The Secret Spy, totaling over $700 million. However, the total box office gross of these films only reached 466 million dollars. This shows that Apple suffered a loss of 250 million dollars.
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However, according to new reports, Apple started selling movies through services such as iTunes and Amazon Prime before the Apple TV+ platform. The company aims to recover costs and make a profit through rental or purchase. It’s also worth noting that the movies are available at local pricing.
Both “Killers of the Flower Moon” and “Napoleon” topped the App Store movie rental and purchase charts last year. Thanks to ancillary earnings, both films were profitable despite low box office, a studio source said.
Although the box office fell short of expectations, Apple has no plans to withdraw from the movie industry. It wants to make significant investments in the world of cinema, especially Apple TV+.
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