Apple Buys Rights To Movie 'CODA' For $25 Million At Sundance, Setting Record

Apple Inc AAPL has bought the worldwide rights to a movie for $25 million, according to Deadline.

What Happened: Apple made the deal at this year's virtual Sundance Film Festival, for the movie "CODA" about a teenager who's the only one in her family who isn't deaf.

Why It Matters: The movie has garnered acclaim at the festival and is expected to be a hit for streaming.

Apple beat out Amazon.com, Inc. AMZN for the deal, according to Deadline.

The deal tops the record for a deal set at Sundance last year when Hulu and distributor Neon bought "Palm Springs" for $22.5 million.