Apple Studios buys rights to ‘CODA’ for $25M after Sundance Film Festival debut: report
Acclaimed Sundance film caused a bidding war among streamers and was purchased by Apple
Apple Studios reportedly put down $25 million to secure the rights to a film that performed well at the virtual Sundance Film Festival.
The film, “CODA,” which is an acronym for “Child of Deaf Adults,” debuted on Thursday, Jan. 28 – the festival’s first day. The movie was so well received, it started a bidding war among all of the top streaming services, according to Deadline Hollywood.
Interested parties allegedly included Netflix and Amazon Prime Video, Deadline’s sister site Variety reported.
The movie "CODA" stars actress Emilia Jones as the character Ruby Rossi. (Courtesy of Sundance Institute)
Representatives at Apple did not immediately respond to FOX Business’ 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 finds herself torn between pursuing her love of music and her family's reliance on her to be their connection to the outside world,” according to a synopsis published on IMDb.
As of Sunday, the movie has an average rating of 8.3 out of 10 on the movie information database and review platform.
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Apple Studios has acquired global rights to the film, according to Variety
The film "CODA" debuted at the Sundance Film Festival on Jan. 28, 2021. (Courtesy of Sundance Institute)
CAA Media Finance, ICM Partners and Pathe Films are said to have helped broker the deal between Apple, writer-director Siân Heder and other key players who worked on the film.
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The purchase of “CODA” breaks the previous Sundance film bidding war set by “Palm Springs” last year, which starred Andy Samberg and was sold to Hulu for more than $22 million, according to reports.
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It is not yet known when “CODA” will become available on Apple TV+ or iTunes.