The financial situation that Apple TV+ is in is dire and to prevent the worst, Apple has begun licensing some of its Apple TV+ content elsewhere as wellso she will save money and try to spread her appeal.
The tech giant from Cupertino has taken a remarkable step to expand its film operations by hiring an experienced executive, Maria Ines Rodriguezto oversee the licensing of its original producers to third parties, reports Bloomberg. Rodriguez, who has previously worked with industry giants such as Disney and NBCUniversal, joined Apple earlier this year.
According to information cited by the report, the company’s current focus is to license its films to foreign TV networks and digital outlets for rentals and purchases. However, Apple has no immediate plans to extend this licensing strategy to its original TV shows.
This change comes amid efforts by CEO Tim Cook and Eddy Cue, Apple’s head of services, to reduce the cost of Apple TV+, improve its financial performance and deliver more commercially successful productions.
Despite investing billions in critically acclaimed original content, Apple TV+ has struggled to attract a wide audience or generate profit. To address these challenges, the company has already started selling TV+ subscriptions through Amazon and is now exploring licensing as another way to reach untapped audiences and generate additional revenue.
Although the practice of content licensing is well-established in Hollywood, where studios have historically sold rerun rights to television networks and other platforms, the streaming giants such as Netflix, Amazon Prime, until now they kept their content solely to increase subscriptions.
Now that exclusivity is starting to loosen as some major players in the industry, including Warner Bros. Discovery, Paramount and Disney have begun licensing more of their titles. Even Amazon has started sharing some of its shows and movies with other platforms.
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Source: myphone.gr
