Apple TV+ to license its movies to other services
Apple has hired an executive to license its Apple Original Films’ movies to other companies with the intent to not only increase returns from its film business, but also to get its content in front of more eyeballs.
Lucas Shaw for Bloomberg News:
Maria Ines Rodriguez, who previously worked at Disney and Comcast Corp.’s NBCUniversal, joined Apple earlier this year to work on content distribution. In a job posting from earlier this year, Apple said it’s looking for someone to “develop and implement a global strategy to enhance revenue for Apple TV+’s award winning original content off-Apple platforms.”
Apple is focused on licensing its movies to other companies, such as foreign TV networks and stores, where viewers can rent or buy them, according to a person familiar with the plans. The company isn’t planning to license its original TV shows to third parties. (At least not yet.)
Chief Executive Officer Tim Cook and services boss Eddy Cue have pushed the team overseeing Apple TV+ to lower costs, improve the financial performance of the service and deliver more hits. The company has spent billions of dollars on original films and TV shows and has received strong reviews and praise from critics. Yet few of its titles have attracted a large audience and its streaming service doesn’t make money…
Licensing to third parties will generate additional revenue and introduce Apple movies to people who don’t yet pay for TV+.
MacDailyNews Take: That’s one way to fill in the financial craters, at least somewhat, left by flops like Argylle, Fly Me to the Moon, Ghosted, etc.
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