Apple is planning to make a major move into the film world. The company plans on producing 6 small-budget films a year and is also looking to be a contender for the Academy Awards.

According to sources, Apple will spend between $5 and $30 million per film, which will include the hiring of top talent. This will all be in addition to Apple's multi-year agreement with A24 Studios, who produced the Oscar-winning "Moonlight." 

Netflix has been successful with its films, even earning Oscar nominations for and a win for Best Foreign Film "Roma".

Apple has a large body of original content including TV shows and films that will be heading to its new streaming service, Apple TV+.