Apple (NASDAQ:AAPL) is broadening its selection of content with the release of Martin Scorsese’s highly anticipated film Killers of the Flower Moon. The film, which will be distributed by Paramount, is the first Apple original to receive a more extensive theatrical run.

According to 9TO5Mac, the movie starring Leonardo DiCaprio will have a restricted release on October 6 before receiving a wider release on October 20 in all countries. The film will be accessible on Apple TV+ after the theatrical run (after a 45-day theatrical exclusivity window).

According to Bloomberg, Apple intends to increase its presence in the entertainment sector by investing $1 billion in film production. A step in that direction is the collaboration with Paramount for Killers of the Flower Moon’s distribution.

It is anticipated that theatrical releases will increase Apple’s visibility as a film producer. The iPhone manufacturer is collaborating with renowned filmmakers like Matthew Vaughn and Ridley Scott to improve content for the service. The company has a strong pipeline of films and television episodes for Apple TV+ streaming services.

Strong Content Helps Apple TV+ in Competing with Others

Apple TV+ is becoming more well-known thanks to its great entertainment catalog, which includes episodes like Ted Lasso, despite having fewer members than Netflix (NASDAQ:NFLX) and Disney (NYSE:DISà). This year, The Boy, the Mole, the Fox, and the Horse, one of its animated films, took home the Oscar for Best Animated Short Film. Three Academy Awards were given to Apple for CODA last year.

Apple’s outstanding performance at the Academy Awards has played a significant role in raising awareness of Apple TV+ in the crowded streaming industry, which is now dominated by services like Amazon (NASDAQ:AMZN), Netflix, and Disney+.

As part of its diversification strategy, Apple TV+ will start to stream Friday Night Baseball, a weekly doubleheader, starting on April 7.

Increased Service Revenues to Support Growth

Apple’s Services division, which has recently emerged as a significant source of revenue, has benefited from the rising popularity of Apple TV+ and programs like Fitness+.

Almost 935 million paid customers currently subscribe to the Services portfolio, which contributed 17.7% of sales in the first quarter of the fiscal year. Revenues from services reached $20.77 billion, up 6.4% from the same quarter last year.

Notwithstanding difficult macroeconomic conditions, a decline in digital advertising, and difficulties in gaming, services revenues are anticipated to increase year over year during the second quarter of the fiscal year.

During the past year, Apple stock has outperformed the Computer & Technology sector. Netflix, Disney, and Amazon shares have plunged 13.4%, 31%, and 41.9%, respectively, while Apple shares have lost 9.8%.

For the past 30 days, the $1.44 Consensus Estimate for Apple’s fiscal second-quarter profits has been constant.

Due to adverse foreign exchange, Apple anticipates that its fiscal second quarter’s year-over-year revenue growth will resemble that of the quarter ending in December. 

Featured Image: Pexels @ Pixabay

Please See Disclaimer