Apple wants to make Oscar-worthy movies to beef up streaming service

New York Post:

Since announcing plans to compete with Netflix in March, Apple has been busy with a new project: financing six small-budget movies a year with an eye toward stories that could win Academy Awards, sources have told The Post.

And:

Apple is looking to spend $5 million to $30 million per project, sources said, adding that the company is being driven by Netflix’s recent spate of Oscar nominations and win for Best Foreign Film with “Roma” — legitimizing Netflix head Reed Hastings’ standing in Hollywood.

Hard to judge the motivations of others (how can anyone know if the company is being “driven” by Netflix envy?), but this certainly seems a logical move, balancing a variety of popular projects with prestige projects to add luster to the brand.

I’m eagerly following Apple’s foray into Hollywood, looking forward to the Apple TV+ rollout.