Apple TV+ has experienced its fair share of successes, yet it still faces challenges in achieving broader popularity. A recent report indicates that Apple plans to begin licensing some of its content to other platforms to conserve costs and enhance its visibility.
Apple Movies to Appear on Other Platforms
Lucas Shaw reports for Bloomberg:
Apple has appointed an executive to oversee the licensing of its original productions to external companies, a move aimed at boosting revenue from its film division and increasing the exposure of its content.
[…]
The company is focusing on licensing its films to other entities, including overseas TV networks and retail outlets, where viewers can either rent or purchase them, according to sources familiar with the initiative. The plan does not currently include licensing its original TV series to outside parties. (At least for now.)
Shaw highlights that CEO Tim Cook and services chief Eddy Cue have been urging the TV+ team to reduce expenses and enhance performance.
The film division, in particular, has been under scrutiny, especially after the abrupt cancellation of its planned theatrical release for Wolfs. Reports indicate that Apple is revising its film strategy to focus less on high-budget theatrical releases and more on cost-effective, streaming-friendly content.
Licensing appears to be a key part of Apple’s strategy to mitigate losses from TV+.
While licensing films to ‘foreign TV networks and stores’ may not appear significant at first glance, Apple TV+ has always aimed for a global audience from the outset. Recently, it has also ramped up the production of foreign language series.
Despite the challenges Apple TV+ has faced in gaining traction within the U.S., this move suggests that it may be encountering even greater difficulties abroad. Thus, licensing films to international TV networks could bolster Apple’s brand while also reducing some financial losses.
What are your thoughts on Apple’s new film licensing strategy? Share your opinions in the comments.
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