Apple TV+ deal with Skydance is one of best deals a studio has ever struck
Nearly a month after it was reported, new details about Apple's deal with Skydance indicate that it might be of the "richest" partnerships in the movie industry.
Apple TV+ logo
Back in January, Apple and Skydance inked a multi-year pact that would see the company produce a number of original films for Apple TV+.
According to Variety, the agreement resembles a "put deal," which is an increasingly rare arrangement in Hollywood that involves a distributor like Apple TV+ being obligated to release the films that its partner chooses.
Even weeks after news of the deal surfaced, Hollywood is also reportedly "abuzz about what a lucrative and rarified deal Skydance carved out for itself."
Under the terms of the deal, Skydance will produce at least two fully-financed films with budgets up to $125 million, according to inside sources. The production company is also guaranteed a payout of a least $25 million per movie, depending on budget thresholds.
In addition, Skydance will get to keep the copyright to the intellectual property it makes for Apple.
Although both companies will share revenues, the Skydance-produced films may not see a theatrical release. Instead, they could end up Apple TV+ exclusives.
Apple's Matt Dentler, a features head, and Jamie Erlicht and Zack Van Amburg, who led the Skydance deal, will identify which films will qualify under the two-a-year minimum.
Although Apple was seen as the likely partner when Skydance's first-look deal with Paramount expired, the Cupertino still beat out rivals like Netflix and Amazon Studios.
Back in 2021, Apple and Skydance Animation also announced a partnership to work on a number of animated films.
Read on AppleInsider
Apple TV+ logo
Back in January, Apple and Skydance inked a multi-year pact that would see the company produce a number of original films for Apple TV+.
According to Variety, the agreement resembles a "put deal," which is an increasingly rare arrangement in Hollywood that involves a distributor like Apple TV+ being obligated to release the films that its partner chooses.
Even weeks after news of the deal surfaced, Hollywood is also reportedly "abuzz about what a lucrative and rarified deal Skydance carved out for itself."
Under the terms of the deal, Skydance will produce at least two fully-financed films with budgets up to $125 million, according to inside sources. The production company is also guaranteed a payout of a least $25 million per movie, depending on budget thresholds.
In addition, Skydance will get to keep the copyright to the intellectual property it makes for Apple.
Although both companies will share revenues, the Skydance-produced films may not see a theatrical release. Instead, they could end up Apple TV+ exclusives.
Apple's Matt Dentler, a features head, and Jamie Erlicht and Zack Van Amburg, who led the Skydance deal, will identify which films will qualify under the two-a-year minimum.
Although Apple was seen as the likely partner when Skydance's first-look deal with Paramount expired, the Cupertino still beat out rivals like Netflix and Amazon Studios.
Back in 2021, Apple and Skydance Animation also announced a partnership to work on a number of animated films.
Read on AppleInsider
Comments
How is this a good deal when Skydance keeps the copyrights? They can pull out the productions and make them Netflix exclusive or sell to Disney.
Even worse, sequels could be Netflix exclusive which will bite Apple in the a**.
They will share the revenue and most people have Netflix already. Apple has said they aren't trying to compete with Netflix/Disney/Amazon and that they are great partners. But again, just because Skydance could do something like this doesn't mean they will, they have no reason to do this.
Skydance worked on Foundation.
A lot of their good projects look like they are going to Paramount like Top Gun, Transformers, Mission Impossible, Star Trek:
https://en.wikipedia.org/wiki/Skydance_Media
A couple of Apple's are The Greatest Beer Run Ever and Ghosted:
https://en.wikipedia.org/wiki/The_Greatest_Beer_Run_Ever
https://www.imore.com/apple-original-films-ghosted-loses-scarlett-johansson-james-bond-star-steps
I expect the $125m budget ones will be better than this.
Doesn't sound like a good deal to me. Apple should have acquired them while they’re still “young”.
These reports are NOT the contracts which Apple and Skydance signed.