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Last Updated : Sep 12, 2018 02:04 PM IST | Source: Moneycontrol.com

Apple enters movie industry with two film deals, $1-billion annual budget

At the initial stage of making inroads to the world of cinema, the consumer electronics giant is taking up family-focused movies.

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After bringing cutting-edge technologies in smartphones, Apple is now setting its sights on the film industry. Apple Inc’s video division has closed deals for two movies this week, reported Bloomberg. The division, run by executives Zack Van Amburg and Jamie Erlicht, got a budget of at least $1 billion to spend in a year, said the report.

At the initial stage of making inroads to the world of cinema, the consumer electronics giant is taking up family-focused movies. The division has acquired the rights to Cartoon Saloon studio and director Tomm Moore’s next film ‘Wolfwalkers’.

Though the reports of Apple’s agreement with Oscar-nominated Cartoon Saloon studio was making rounds since June, it was confirmed by Moore on Twitter early in this week, saying “It’s Official: Apple Has Picked Up Rights To Cartoon Saloon’s ‘Wolfwalkers’”

The movie tells the story of a young hunter named Robyn who goes to Ireland with her dad to wipe out the last pack of wolves. However, after Robyn saves a wild native girl named Mebh, she discovers the world of the Wolfwalkers and becames what she came to destroy. The film will reportedly present a distinctive graphic look that reinforces the themes and values of its story.

The latest technology company also acquired the global distribution rights to the documentary feature ‘The Elephant Queen’, which was premiered at the Toronto International Film Festival recently.

Apple has hinted at its ambition to touch heights in television content, but until now the company has not pushed strongly into the feature film industry. Still, its partnership with Cartoon Saloon suggests that it is seeking Oscar-worthy films. Theatrical release of the two films has not been confirmed yet.
First Published on Sep 12, 2018 11:03 am
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