If Apple TV + abandons theatrical releases, it wo n’t be because of money

Brad Pitt and George Clooney star in “Wolfs”
Apple TV+ movies have not been a blockbuster success, bringing in enough revenue to rival the iPhone. But theatrical releases help the company gain subscribers and attract talent. The writer/director Jon Watts movie “Wolfs” starring George Clooney, Brad Pitt and others will now have a limited one-week release in theaters. Apple’s decision to greenlight a sequel to “Wolfs” is a contradiction. Normally, this would be interpreted as Apple not expecting a good performance from the movie. This mixed message and the shorter time the film spent in theaters has led to speculations that Apple is no longer pursuing theatrical releases like it used to with movies such as “Napoleon” and “Killers of the Flower Moon.” Apple has not commented on this. However, there are four reasons why a company would invest in the expense and complexity of producing a major theatrical release. While Apple may no longer need any of these, it still reaps the benefits of each. If you don’t release your films in theaters, you won’t be eligible for awards. It may seem trivial, yet winning awards can have a long-lasting impact on the profitability of a movie, not just during awards season but for years to come. Apple TV+ – theatrical prestige is important When you are trying to stand out from the crowd, winning awards will help. Apple TV+ needed it before, because it was the streamer that had by far the smallest collection. But maybe it no longer needs it. Apple TV+ has gained a reputation for its quality and range of shows. Apple has already won the biggest award, the Oscar. Apple did not make “CODA,” but it was a film they bought. It’s the first time a streaming platform has won Best Picture. Apple may be the first to win an Oscar, but other streaming platforms will follow. “CODA” did not just receive the minimum theatrical release required to be eligible for Academy Awards. Apple sent the film back to theaters after the nominations had been announced. The main goal of regular films is to make money, not win awards. Opening weekend box office takes are huge because they are usually a big deal. Apple isn’t known for refusing money, but the company isn’t in a financial crisis either. Apple doesn’t need to think twice about the trade-off between money made in theaters and a possible drop in Apple TV+ subscribers. It’s easy, however, to assume that people who see a movie in a theater won’t subscribe at their home. In reality, it’s much more complicated, as a theatrical release can be the biggest advertisement for the streaming service. Apple TV+ Films receives publicity from billboards across the country, TV spots and press coverage. Some people will choose to watch the film in the theaters while others will wait for the streaming release. Others will just be made aware of the film by all this. This is an audience who may have missed the theatrical release and will be happy to catch up with the streaming release. Home media, whether it’s VHS or streaming, has always helped to raise awareness for titles. It’s less obvious whether a company will get the same attention from a limited release compared to a wider one. Apple must be calculating this. While it’s at it, it may as well try to add up something less tangible than box-office receipts and increased subscribers numbers. It can try to figure the politics out. Attracting talent for Apple TV+ Writers and directors, producers and actors all want to see their film made, and they want to make sure that it is seen by as many people as possible. When you are presenting an idea to studios, broadcasters and streaming services, your first concern is that it will be approved. You’re second thought is whether the place that just agreed to fund your multimillion dollar epic will be able to get you in front audiences. Apple TV+ has contracts that require a theatrical release of their project. This will probably never change. It’s only a matter of how many contracts there are. Apple’s ability to attract talent without a theatrical release is also a question. Apple TV+ will be able to attract filmmakers if a one-week window of theatrical release is combined with a sequel that has been greenlit. “Wolfs”, which will premiere outside of competition at the 81st Venice International Film Festival before a limited theatrical release starting September 20, 2024, will be released for a week. The film will be streamed on Apple TV+ starting September 27.