Apple announced on Thursday that it would start creating independent, feature-length movies with the premier studio, A24.
A multi-year agreement has been inked by the Apple X manufacturer and the New York City-based entertainment firm.
The world’s most valuable company, with market value recently reaching an astonishing $1 trillion, hinted that it is following the footsteps of streaming giants Netflix and Amazon.
These over-the-top companies, as well as Time Warner’s HBO, are shelling out multibillion-dollar funding for the creation of original TV series and films at a time when online video streaming is gaining ground.
A24 is an independent entertainment organization which specializes in TV and movie production and distribution.
The movie studio, founded in 2012, is behind several film projects that have earned Academy Award recognition.
This year, the entertainment firm is reported to have garnered a total of 24 Academy Award nominations.
Brie Larson bagged the Best Actress Academy Award for “Room” which was distributed by A24.
Moreover, science fiction movie “Ex Machina” won Best Visual Effects.
The film “Amy” won the Best Documentary Feature prize. A24 won the prestigious Academy Award for Best Picture for “Moonlight.”
This is the first time in which the company earned this accolade. “Lady Bird” received five Academy Award Nominations.
Among them are the awards for Best Picture, Best Director, and Best Original Screenplay. In addition, the film was nominated in the Best Supporting Actress category and Best Actress for the exemplary performance of Saoirse Ronan.
The television branch of A24 launched “The Carmichael Show.” Under the agreement between Apple and A24, the Oscar-winning movie studio will produce movies for the iPhone maker.
Last year, Apple’s budget was revealed to consist of an allocation worth over $1 billion to produce scripted content.
The companyâ€™s group of original content makers previously only signed agreements for the animated movie, “Wolfwalkers,” and the documentary, “The Elephant Queen.”
The technology giant also recently expressed its intent to collaborate with Hollywood luminaries like talk show host Oprah Winfrey.
Jennifer Aniston and Reese Witherspoon are also included in the celebrity lineup collaboration of Apple. They will be cast in a series to give more original content for the audience.
Other content projects that Apple had made known to the public consist of the remake of “Amazing Stories” which is the 1980s science fiction TV series by Hollywood director Steven Spielberg.
“Foundation” is based on the influential science fiction novels of Isaac Asimov. All of these developments demonstrate Appleâ€™s response and interest to take a slice of the current success of the streaming services realm.