Apple Inc (NASDAQ:AAPL) is looking to premiere the Martin Scorsese film "Killers Of The Flower Moon" in theaters before it runs on its TV+ streaming platform.

What Happened: The film is set to receive a limited theatrical release on October 20. The Tim Cook-led company has partnered with Paramount Pictures for the release, according to a company statement.

The movie is set to get a wide release on October 20 after which it will be streamed on Apple TV+, according to the Cupertino, California-based company.

"Killers Of The Flower Moon" is based on a book of the same name by New Yorker staff writer David Grann. It is set in 1920s Oklahoma and depicts serial murders of the oil-rich Osage Nation.

The movie features Leonardo DiCaprio, Robert De Niro, Lily Gladstone, and Jesse Plemons among others.

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Why It Matters: Through CODA, Apple has already snagged one Oscar for best picture. The film beat Netflix Inc's (NASDAQ:NFLX) "The Power of the Dog" and "Don't Look Up" to snag the coveted award.

It was reported in May 2020 that Scorsese's next film would be financed by Apple. The production previously suffered from budgetary overruns with costs above $200 million.

The iPhone maker is looking to splurge $1 billion each year on producing movies to draw subscribers to its streaming service. Other potential releases include "Argylle" and "Napolean" one a spy thriller and the other a drama about the French emperor.

Price Action: On Monday, Apple shares closed 1.2% lower at $158.28 in the regular session and rose 0.1% in the after-hours trading, according to Benzinga Pro data.

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Photo courtesy: Apple TV+