Stocks close mixed as yields recede from 16-year highs: Stock market news today - Yahoo Finance

Apple's big box office bet

Apple's "Killers of the Flower Moon" (AAPL) represents a strategy shift in film for the tech giant as it more heavily leans on theatrical exclusive titles to drive subscribers to its flagship streaming service Apple TV+.

The company, which has pledged to spend $1 billion producing movies for theaters, has taken advantage of the box office's post-pandemic bounce back amid a turbulent time in the industry with the actors' union, SAG-AFTRA, still on strike.

"This certainly signals a transition period for [Apple] in terms of how they're going to approach content, especially with big prestigious productions and A-plus list talent like Leonardo DiCaprio and Marin Scorsese," Shawn Robbins, chief analyst at Box Office Pro, told Yahoo Finance.

The film, which was distributed by Paramount (PARA), notched $44 million in its global debut this past weekend — a lukewarm opening considering its estimated $200 million-plus price target but still a notable feat due to its long run time, coupled with the strike.

"Apple sees the potential for a film like this, and for other films, to perform well with an exclusive theatrical window," Robbins said. "Studios have certainly remembered how valuable that theatrical window is — and that includes new players like Apple."

Apple's $1 billion theatrical bet, which will also include upcoming titles like Matthew Vaughn's "Argylle," and Ridley Scott’s "Napoleon," matches rival Amazon (AMZN), who formulated similar plans to invest in box office releases last year.

Amazon closed its $8.5 billion deal to acquire MGM in March 2022 and saw big success with the release of "Creed III" earlier this spring.

"Both companies recognize this is a big part of where their bottom lines can lean on in terms of theatrical representation, and eventually, that's going to help their streaming libraries down the road. So it's a win-win to be able to embrace both sides," Robbins said.

Adblock test (Why?)



from "market" - Google News https://ift.tt/vqHANJu
via IFTTT

Comments

Post a Comment

Popular posts from this blog

After street vendor crackdown, Corona Plaza market is a changed place - Gothamist

Image
The stretch of pavement in Queens where Liliana Sanchez used to sell aguas frescas has been empty since city sanitation police forced her to pack up her pop-up tent canopy. Her 16-year-old daughter now spends school nights and weekends busing tables to help pay rent. Across the street from Corona Plaza, sales at Alondra Cardoso’s hair salon have dipped 30%, or some $200 to $300 dollars a week, since the clientele from the former street vendor market no longer venture into her shop. Delivery worker Jorge Marin, 35, now orders breakfast from a bakery at a nearby intersection. He used to load up on tamales and yogurt and steaming cups of champurrado at the market, which expanded during the height of the pandemic. Now, at the bakery, he said he spends more for less. “It’s been dead,” Queens Borough President Donovan Richards said of the plaza since the vendors’ departure. “It’s taken the life out of the community.” The scene on a recent day in Corona Plaza, Queens, where a crack
Read more

Consumer Price Inflation, by Type of Good or Service (2000-2022) - Visual Capitalist

Image
Published 1 day ago on February 22, 2023 Consumer Price Inflation, by Type of Good or Service (2000-2022) The Consumer Price Index (CPI) provides a steady indication of how inflation is affecting the economy. This big picture number is useful for policymakers and professionals in the financial sector, but most people experience inflation at the cash register or checkout screen. Since the start of the 21st century, U.S. consumers have seen a divergence of price movements across various categories. Nowhere is this better illustrated than on this chart concept thought up by AEI’s Mark J. Perry . It’s sometimes referred to as the “chart of the century” because it provides such a clear and impactful jump-off point to discuss a number of economic forces. The punchline is that many consumer goods—particularly those that were easily outsourced—saw price drops, while key “non-tradable” categories saw massive increases. We’ll look at both situations in more detail below. Race
Read more