A24 to Make Movies for Apple

Under the multiyear agreement, the indie studio will produce a slate of films for the tech giant.

Apple has set a strategic partnership with one of Hollywood's top independent studios.

The tech giant has signed a multiyear agreement with the New York-based A24. Under the pact, the studio behind Moonlight will produce a slate of multiple films for Apple.

In the past year, Apple has greenlit several TV series, including two seasons of the Jennifer Aniston-Reese Witherspoon morning-show drama, a reboot of the 1980s sci-fi drama Amazing Stories from Steven Spielberg and an immigration anthology series from Big Sick writers Emily V. Gordon and Kumail Nanjiani. The world's most valued company has budgeted $1 billion for its TV packages.

The A24 partnership is the first substantial announcement from Apple regarding its feature film plans.

A24 picked up a best picture trophy at the 2017 Academy Awards for Barry Jenkins' Moonlight. Recent releases include Bo Burnham's Eighth Grade and Jonah Hill's Mid-90s. There were rumors that, as Apple continues its foray into Hollywood, it would seek to acquire a smaller studio, with A24 being one of the options, along with Lionsgate and MGM.

It is unclear how the films produced under the pact will be distributed. A24 handles theatrical distribution for its films. (The studio has a deal with DirecTV to jointly acquire films for U.S. distribution, with DirecTV getting rights to offer the films on demand.) Apple has yet to announce distribution plans for their series.