Apple puts up $1bn for Hollywood shows

18 August, 2017, 00:21 | Author: Darrell Baldwin
  • Apple preps $1bn war chest, adds Cherniss

"Further, Apple's $1 billion original content budget is likely on a par with its main rivals: Netflix, Amazon and Hulu". On Wednesday, those stocks barely budged.

The Wall Street Journal reported that Apple already have $1 billion primed to invest on "original content". Up until now, initial efforts "Planet of the Apps" and "Carpool Karaoke" have failed to bring much attention and the company are still yet to reveal ratings for the show. For example, Netflix - home to heavy hitters like House of Cards and Orange Is The New Black - is expected to spend more than $6 billion on acquiring programming this year.

Splashingtons, are you ready for original content from Apple? The WSJ's sources indicated that Apple was planning to buy and produce 10 TV shows.

That makes Apple a real player in Hollywood, something the town has been anticipating ever since Netflix and Amazon crashed into the market with big budgets.

Former Sony television executives Jamie Erlicht and Zack Van Amburg are said to be leading the team.

Earlier this week, Apple confirmed that it had hired former WGN America and Tribune Studios president and GM Matt Cherniss to head development for the programming initiative and assist in discovering suitable high-quality programming.

Carving out a space in the original programming space could prove hard for Apple. High-end shows such as Game of Thrones cost more than $10 million per episode to produce. If Apple wants to outdo something like HBO's "Game of Thrones", It would definitely need more money.

It's not clear yet how the new shows will be released to Apple customers.

With its natural global presence and a marketable brand name, there's no shortage of possibilities for Apple if it does decide to go big in the movie industry.

Let's see where Apple's decision to produce original content takes them.

Apple has accelerated its push into video over the past year as it seeks to double revenue by 2020 from its services business, which includes products such as Apple Music and the App Store.



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