Movie studios reportedly in talks with Apple over rental agreement for new movies
- aug
- 21
Apple is said to be in talks with major movie studios about a plan that would see studios offer major film releases for rent only a few weeks after they hit theaters. In addition to Apple, Comcast is reported to be a part of these discussions.
From Bloomberg:
Some of the biggest proponents, including Warner Bros. and Universal Pictures, are pressing on in talks with Apple Inc. and Comcast Corp. on ways to push ahead with the project even without theater chains, the people said. After months of negotiations, the two sides have been unable to arrive at a mutually beneficial way to create a $30 to $50 premium movie-download product.
The deals could apparently be struck by early 2018, though studios are (naturally) facing a lot of pushback from theater owners, who likely stand to lose big if this project attracts consumers. Theater chains supposedly asked for a 10-year deal on profit sharing that studios were offering, but the studios have reportedly rejected that offer.