Apple TV + and films bought in a different country
Can I watch films bought while living in the UK when back in New Zealand?
Apple TV 4K, tvOS 13
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For iTunes Store purchases, what matters is the region of your Apple ID account. You may not be able to stream (all) movies from before changing the region, but you should be able to download a personal copy before making the administrative change, which would still be valid after the change.
Change your Apple ID country or region - Apple Support
- What to do before you change your country or region
For Apple TV+, you may have to cancel the subscription and resubscribe after the change.