Apple will scale its original content spend from less than $200 million today to $5-7 billion in five years, and win an Oscar in five years, says an analyst. Fred Katayama reports.
The Academy Awards also known as the Oscars will be handed out on Sunday. Top runners for the movie industry's highest honors are the romantic musical, "La La Land," boasting 14 nominations, and an independent challenger "Moonlight," with eight. Another strong contender is Amazon-produced "Manchester by the Sea." It received six nominations, including for best picture, a first for a movie from a streaming service. Amazon has started a trend that will eventually result in Apple getting on Oscar in five years, predicts Gene Munster of Loup Ventures. (SOUNDBITE) GENE MUNSTER, MANAGING PARTNER, LOUP VENTURES, (ENGLISH) SAYING: "Apple is just starting to get into original content, similar to what Amazon and Netflix have done over the last ten years. And, so, we expect that their spend in that content is going to go from about $200 million today to close to $10 billion in the next five years. And we think that aggressive spend will yield an Oscar in year 2023." With a $8.5 million budget, "Manchester by the Sea" has been a winner at the box office, making close to $60 million so far. "La La Land" has earned $340 million off a $30 million budget. And "Moonlight" has already taken in more than four times its initial investment of $5 million, bringing in more than $22 million.