Apple recently bought a coming of age movie for around $25 million at the Sundance Film Festival. This is the largest ever deal at Sundance event says sources.
But, this deal wasn’t made easy for Apple and that’s why have to seal the deal for a record price. With the influence of OTT platforms reaching a new peak after COVID-19, all the major players are fighting each other in sealing the best deal.
Though Netflix and Amazon Prime Video are the big ones in the market right now, Apple TV+ is not shy to prove their worth to its users.
At the Sundance Film Festival, Apple TV+ bought Sian Heder’s CODA (Children of Deaf Adults) for 25 million. It is not a cakewalk for Apple, as Amazon Prime Video entered the scene with a bidding war.
How Amazon failed to bag the deal?
It is being said that Amazon Prime Video had no room to release a new title in 2021. They have lot of movies and series waiting in the queue to be released. Most of them already announced a release date. That’s how Apple TV+ bagged this deal. Interestingly Netflix showed interest in the bidding at one point, but later they went silent.
What is CODA movie about?
As the name suggests, this movie is all about a high school senior girl, who’s the only hearing person in her family. She has a dilemma over supporting her deaf family in their fishing or run towards her dream in music career.
Though this movie is not going to gather thousands of new subscribers, Apple believes only these kind of movies would win awards at prestigious events like Oscars and Golden Globes. Those big prizes would help Apple TV+ in increasing their profile value among other OTT platforms.
The previous record at Sundance Film Festival was Hulu’s Palm Springs, which was bought for 22.5 million. Now, Apple TV+ has beaten the record and show their presence strongly to other platforms.