Friday, March 1, 2024

‘Go where the customer is’: Paytm’s Vijay Shekhar Sharma questions Apple’s plan to spend $1 bn on films

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Paytm boss Vijay Shekhar Sharma sought the opinion of social media users on Friday on iPhone seller Apple’s plan to venture into films. For the unversed, a recent report by Bloomberg revealed that the Tim Cook-led company plans to spend $1 billion a year to produce movies that will be released in theaters, according to sources. 
 
Sharma posted on social networking platform, Twitter, and asked people what they made of this move.
 
He also asked if Apple wants to deploy a “going-where-the-customer-is” strategy or has it realised that it is tough to replicate offline world experiences on online platforms. 
 
Users reacted to Sharma’s post with multiple opinions. Some called it the ‘blue ocean strategy’ which refers to doing business where there is no competitor. It also means opening up a new market space and creating new demand instead of dividing an existing one.

 Another user said that Apple is just following ecommerce giant Amazon’s footsteps which also ventured into films with Amazon Studios.
 
The report by Bloomberg also stated that this is part of Apple’s ambitious efforts to raise its profile in Hollywood and lure subscribers to its streaming service. Sources have also told the media agency that the tech behemoth has approached movie studios about partnering to release a few titles this year in theaters and slate a few more in the next one. 
 
“The list of potential releases includes Martin Scorsese’s Killers of the Flower Moon, which stars Leonardo DiCaprio; the spy thriller Argylle, from director Matthew Vaughn; and Napoleon, Ridley Scott’s drama about the French conqueror,” the report noted. 

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