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Big Law

Apple Acquires CODA for a Record-Breaking $25M at the Sundance Film Festival

Apple Studios has set a Sundance record by paying more than $25 million for CODA, a hit movie that was also reportedly sought by competitors Netflix and Amazon. With this purchase, Apple has achieved the worldwide exclusive rights to the feature film, which is expected to launch on the company’s Apple TV+ streaming service.

CODA, which stands for ‘child of deaf adults,’ is a feature film starring Emilia Jones as Ruby Rossi, a hearing girl born into a deaf family of fishermen. As the only person in the home who can hear, Ruby plays has an important role in her family’s lives — making it hard for her to pursue her dream when given the chance at a scholarship.

According to Deadline, which broke the news, Apple’s CODA purchase marks the first big virtual 2021 Sundance Film Festival sale — also setting a new record for a Sundance acquisition, eclipsing the $22.5 million paid for Palm Springs. The report claims the movie acquisition came down to Amazon and Apple, with Apple obviously winning in the end.

Read the source article at SlashGear

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