Apple has committed to spending $1 billion a year to become a serious distributor of blockbuster movies in the global theatrical marketplace, Bloomberg reported, citing unnamed sources.
Apple has dabbled at the box office before. It paid $25 million to buy the indie film CODA at the Sundance Film Festival two years ago, arranged a small international theatrical release for it in Italy, Korea and Mexico, and ended up becoming the first streaming company to win the Oscar for Best Picture.
