The Academy of Motion Picture Arts and Sciences recently added a new rule that makes it harder for streaming services such as Apple TV+ and Netflix to compete.
Currently, one of the qualifiers is that the movie must have a theatrical release of one week in one of six major cities. For the upcoming 97th Academy Awards for 2024 films, there will still be the qualifying run and the addition of an extended run of one week in ten of the top 50 US markets within 45 days after the initial launch.
Distributors will have to submit their plans for release to be verified by the organization. The extended run will have to be completed as well before January 24 next year. The new rule changes do not make a significant impact on conventional film studios. However, streaming platforms such as Apple TV+ and Netflix may find an added burden to do extended theatrical runs.