If Apple abandons theatrical releases, it won’t be for financial reasons

Brad Pitt and George Clooney in “Wolves”

Writer-director Jon Watts’ “Wolfs,” starring George Clooney and Brad Pitt, is now in theaters for a week. One might think that Apple doesn’t expect the movie to do well, but Apple has simultaneously greenlit a sequel to the film.

That mixed message, and particularly the film’s shortened theatrical run, has led to speculation that Apple is simply no longer pursuing theatrical releases as it once did with films like “Napoleon” and “Killers of the Flower Moon.”

Naturally, Apple doesn’t talk about it, but there are four reasons why a company would commit to the expense and complexity of a major theatrical release — and while Apple arguably doesn’t need any of them anymore, it still benefits from all of them.

The main reason movies are released in theaters is because if you don’t, you’re not eligible for awards. It may sound trivial, but traditionally, winning awards has benefits for a film’s bottom line, not just during awards season, but forever.

When you’re trying to stand out in a crowded market, being the streamer that wins awards certainly helps. Apple TV+ certainly needed it before, as it’s the streamer with by far the smallest library, but it may not need it anymore.

Apple TV+ is now known for the diversity and quality of its few programs. Plus, Apple has already won the biggest award of the bunch, an Oscar. Granted, that was for “CODA,” a film that Apple bought rather than producing itself.

But it’s also the first Best Picture Oscar ever won by a streaming platform. Other streaming platforms can win Oscars, but Apple will always have been the first.

“CODA” didn’t just get the minimum theatrical release to be eligible for the Oscars. Once the nominations were announced, Apple actually sent it back to theaters.

Classic films have other goals than winning awards, however, and that’s because they also hope to make a lot of money. Opening weekend box office receipts are a huge issue, because they’re usually a huge issue.

Apple isn’t known for turning down money, but it’s not short on cash either. Given the tradeoff between the money it makes in theaters and a potential concomitant decline in Apple TV+ subscribers, the company doesn’t have to think twice.

It’s easy to think that people who see a movie in theaters won’t subscribe at home. In practice, it’s much more complicated than that, because a wide theatrical release can be the biggest advertisement for the streaming service.

Movies are on billboards all over the country, they have TV spots, they get press attention. There will be people who go see the movie in theaters, others who decide to wait for the streaming release.

But there will be others for whom all this will do is make them more aware of the film. These are audiences who might also miss the theatrical release and who will be delighted to be able to enjoy the streaming release.

Home media, from VHS to streaming, has always helped spread awareness of titles. But it’s less clear that a company can get as much attention from a limited release as it can from a wide release.

This is surely something Apple is calculating. But while it’s doing so, it might as well start trying to add up something far less tangible than box office revenue and subscriber growth.

He can try to understand politics.

Writers, directors, producers, and actors all want their film to get made and seen by as many people as possible. When you pitch an idea to studios, broadcasters, and streamers, your first concern is getting the green light.

But your second question is whether this place that just agreed to fund your multi-million dollar epic is the one that will get you into the public eye. There’s no doubt that there are contracts at Apple TV+ that require a theatrical release for their project, and there probably always will be.

The question now is how many such deals will exist and whether Apple will be able to attract talent without such an exit.

And whether a one-week theatrical release window and a government-approved sequel will be enough to entice filmmakers back to Apple TV+.

“Wolfs” will premiere out of competition at the 81st Venice International Film Festival, before enjoying a limited one-week theatrical release starting September 20, 2024. The film will then stream on Apple TV+ starting September 27.