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Apple Studios paid $ 25 million to secure the rights to a film that performed well at the virtual Sundance Film Festival.
The film, “CODA”, which stands for “Child of Deaf Adults”, premiered on Thursday, January 28 – the first day of the festival. The film was so well received that it started a bidding war between all major streaming services, according to Deadline Hollywood.
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Stakeholders allegedly included Netflix and Amazon Prime Video, reported Deadline’s sister site Variety.
The movie “CODA” stars actress Emilia Jones as the character Ruby Rossi. (Courtesy of Sundance Institute)
Apple representatives did not immediately respond to FOX Business’s request for comment.
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The independent film stars actress Emilia Jones and is about a “hearing child in a deaf family who is torn between pursuing his love of music and his family’s trust in her to be his connection with the outside world,” according to a synopsis published on IMDb.
On Sunday, the film had an average rating of 8.3 out of 10 in the film’s information database and analytics platform.
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Apple Studios acquired global rights to the film, according to Variety
The film “CODA” premiered at the Sundance Film Festival on January 28, 2021. (Courtesy of Sundance Institute)
CAA Media Finance, ICM Partners and Pathe Films helped broker the deal between Apple, screenwriter and director Siân Heder and other key actors who worked on the film.
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The purchase of “CODA” breaks the previous bidding war for the Sundance film set by “Palm Springs” last year, which starred Andy Samberg and sold to Hulu for more than $ 22 million, according to reports.
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It is not yet known when “CODA” will be available on Apple TV + or iTunes.