Apple planning to spend $1 billion on original content

According to the article, Apple's planned investment in its project is roughly equal to the amount of money Amazon spent in 2013 when it first started making original content. On Wednesday, those stocks barely budged. According to The Wall Street Journal, the iPhone maker plans to invest $1 billion in acquiring and producing original TV shows in 2018.

It seems producing original video content is all the rage in the tech industry these days, with everyone from Facebook to Amazon dabbling in the sphere that used to belong to giant movie studios. Its reality show Planet of the Apps has had its fair share of success and "Carpool Karaoke" continues to send shockwaves online. Netflix, meanwhile, is expected to spend more than $6 billion in 2017. Cherniss reports to Erlicht and Van Amburg, who in turn report to Apple services chief Eddy Cue.


But it's late to the online programming game: Netflix, Amazon, Hulu, and HBO have well established services, and a pipeline of original offerings.

Prior to focusing on original content, Apple was more into renting TV shows and movies. It was reported earlier this year that Apple's original series won't directly compete with Netflix, at least not yet.


Just where those shows would appear is not immediately clear, as Apple doesn't have a dedicated video platform. yet.

Cherniss has been named as head of domestic creative development at Apple, having left his role president and general manager of U.S. basic cable channel WGN America (WGNA). Something of that caliber could cost more than $10 million per episode to produce. Apple wants something as big as Game of Thrones on its books. In addition to this, the reach of these shows was not extensive as only those had the accessibility who had Apple Music subscriptions. Apple hasn't released any data on how the shows are performing in terms of viewership, but reviews aren't looking too good. This comes as it seeks to double revenue by 2020 from its services business including Apple Music and App Store.



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