Apple Inc is reportedly looking for a Hollywood based movie production studio campus in order to establish itself as a major player in the entertainment business.
The iPhone maker is looking at multiple possible locations across Los Angles, and this campus could exceed half a million square feet and would complement the company’s current arrangement where Apple leases soundstages to film in.
The new Hollywood studio would play a major role in creating content for the Apple TV+ streaming service. The platform launched in 2019 is one of the smaller player in the streaming wars even though it has some vary well known shows such as Ted Lasso and The Morning Show. With this new expansion Apple is using big money moves to gain a much larger user base and set itself as a direct competitor to Netflix and Disney+.
Apple is also making a large number of new deals acquiring multiple Movies and TV shows including Martin Scorsese’s ‘Killers of the Flower Moon’ starring Leonardo DiCaprio. And multiple other big name projects. The platform has some of the finest and highest rated content getting itself a curious spot in the entertainment industry as it still lacks the scale. This brings up the question whether Apple will acquire a movie and film studio to get a whole catalog of content similar to Amazon’s acquisition of MGM.
Apple has now hired Mike Mossallam, who is a lead production real estate executive and has also director of production planning and studio leasing at Netflix. This increase the chances of Apple following Netflix in acquiring, building and purchasing multiple production campus along with leasing soundstages across the Hollywood and the world.