While Apple TV+ has produced some successful titles, the service continues to face challenges in achieving widespread popularity. In light of this, a recent report suggests that Apple is set to begin licensing portions of its content to other platforms to cut costs and enhance its reach.
Movies from Apple will soon be available on other platforms
Lucas Shaw from Bloomberg reports:
Apple has appointed an executive to oversee the licensing of its original films to external companies, a move aimed at boosting revenue from its film ventures and increasing the visibility of its content.
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According to a source familiar with the plans, Apple is targeting licensing its films to international TV networks and platforms where audiences can rent or purchase them. However, the company currently does not intend to license its original TV series to outside entities. (At least for now.)
Shaw points out that CEO Tim Cook and services chief Eddy Cue have been urging the TV+ team to reduce expenses and achieve better results.
Particularly, the film division has faced intensified scrutiny recently, especially following the abrupt cancelation of the theatrical release for Wolfs. Apple is reportedly shifting its film strategy to focus less on high-budget theatrical projects and more on lower-cost, streaming-appropriate productions.
As part of these changes, licensing has emerged as a strategy to help mitigate losses associated with Apple TV+.
While licensing movies to “international TV networks and platforms” may not appear significant at first glance, Apple TV+ has traditionally aimed for a global audience. Furthermore, the service has begun producing more non-English series lately.
Despite the challenges Apple TV+ has faced in gaining traction in the US market, this strategy may signify even broader struggles in international audiences. Therefore, licensing films to foreign networks could aid in bolstering Apple’s brand while addressing some of its financial hurdles.
What are your thoughts on Apple’s latest movie strategy? Share your views in the comments.
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