Apple Reaches Deal with A24 Studio

HOLLYWOOD (CNS) - As it delves more deeply into making its own shows and movies, Apple is enlisting Oscar-winning indie studio A24 to produce a slate of films, it was reported today.

Apple has previously signed deals with the likes of Steven Spielberg, Reese Witherspoon, and Oprah Winfrey.

The company is not providing many specifics about the deal with A24 beyond saying it is a “multiyear agreement” and involves multiple films, Variety reported. It's unclear if the movies the studio makes will be released in theaters or if they will premiere on some kind of digital platform. Financial terms of the pact were not disclosed.

The deal enables Apple to partner with one of the hottest brands in the arthouse space. Launched in 2012, A24 has differentiated itself by backing edgy, auteur-driven projects, according to Variety. It nabbed a best picture Oscar for “Moonlight” and also scored with the likes of “Room,” “The Witch,” and “Ex Machina.”

A24 currently has a deal with DirecTV to jointly acquire films for U.S. distribution, with DirecTV getting rights to offer the films on-demand 30 days prior to theatrical release. It also has an output deal with Amazon, through which its films appear on the company's Prime streaming service after they appear in cinemas. Those deals remain in effect.

The Apple and A24 deal is not exclusive, nor is it a first look arrangement, so the studio will continue to produce and release other movies independently, Variety reported. At one point, there were rumors that Apple was going to acquire A24 or another studio, but it appears that it is not taking that route, according to the publication.

Photo: Getty Images

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