Movie theater stocks pop after report says Apple plans to spend $1B a year on releases

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Description: Cinema stocks jumped Thursday after a report said Apple plans to spend $1 billion a year on theatrical film releases. The investment is part of the tech company’s efforts to raise its profile in Hollywood and lure subscribers to its streaming service, Apple TV+, Bloomberg reported, citing people familiar with the matter.

Source: CNBC.com

Date: Mar 23,2023

Link: https://www.cnbc.com/2023/03/23/apple-movie-plan-boosts-theater-stocks-amc.html

Questions for discussion:

  • Why is this announcement considered significant for the industry?
  • How do you think this effort will play out over the next few years?

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