Apple is in talks with Hollywood studios to gain earlier access to movies, according to a Bloomberg report.
21st Century Fox Inc., Time Warner Inc.’s Warner Bros. and Comcast Corp.’s Universal Pictures all confirmed over the past week that they are looking to offer high-priced, home-video rentals of new movies shortly after they open in theaters. Some studio executives have been pushing to allow home rentals as early as two weeks after theatrical debuts and are considering a deal with iTunes as one option, said the people, who asked not to be identified because the discussions are private.
Apple has long been trying to gain earlier access to movies, giving it a leg up on the competition. However, the studios could strike a deal with a different platform instead.
Usually movies are exclusive to theaters for about 90 days before they are made available on DVD or online. Bloomberg notes that there has been little growth in cinema attendance and home video revenue in recent years and so film companies are under pressure to find new growth.
Under consideration is a premium rental rate of about $25 to $50 to watch a new movie, higher than the average price of a ticket.
More details in the full report linked below...
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21st Century Fox Inc., Time Warner Inc.’s Warner Bros. and Comcast Corp.’s Universal Pictures all confirmed over the past week that they are looking to offer high-priced, home-video rentals of new movies shortly after they open in theaters. Some studio executives have been pushing to allow home rentals as early as two weeks after theatrical debuts and are considering a deal with iTunes as one option, said the people, who asked not to be identified because the discussions are private.
Apple has long been trying to gain earlier access to movies, giving it a leg up on the competition. However, the studios could strike a deal with a different platform instead.
Usually movies are exclusive to theaters for about 90 days before they are made available on DVD or online. Bloomberg notes that there has been little growth in cinema attendance and home video revenue in recent years and so film companies are under pressure to find new growth.
Under consideration is a premium rental rate of about $25 to $50 to watch a new movie, higher than the average price of a ticket.
More details in the full report linked below...
Read More