Apple raised its commitment from $2 billion to $6 billion this year to fund original shows and films for its new subscription video service, Apple TV+.
Netflix and Amazon, who were once touted as the saviors of the indie film market, are retreating from acquisitions to focus on producing more original films.
Apple TV+ subscription service will launch on November 1st for $4.99 a month. However, with only a handful of shows available, it will not frustrate the launch of Disney+ or challenge Netflix in a meaningful way.
Discover what type of films independent distributors want to acquire in their own words. Understand what elements 26 U.S. distributors are looking for when they acquire a film at TIFF or elsewhere.
Buyers at TIFF are skittish after a 6% drop in North American box office receipts in 2019. Worse still, is the dire year indie films are having, where receipts have declined 45%.
In the first three months since becoming the new owner of Fox, Disney has publicly complained about Fox’s weak performance and believes there is more trouble on the horizon.