Apple Is Going Shopping For Original Content With $1B To Spend

The iconic Apple

The Wall Street Journal reported that Apple could use that billion bucks to acquire as many as 10 shows next year, and the size of Apple's investment would be about half of what HBO spent on its programming needs last year. On Wednesday, those stocks barely budged. However, it seems the Cupertino firm is planning a more direct participation in the video production business since it is reportedly setting aside $1 billion to make original content.

The $1 billion budget signals how serious Apple is about boosting its original programming, the newest of which lives on its Apple Music subscription service. The company has already dabbled in original programming with Carpool Karaoke, though it will need something with larger appeal and better ratings if it hopes to compete for viewers' limited television time. TechCrunch pointed out that Amazon plans to spend as much as $4.5 billion this year, while Netflix plans to spend up to $6 billion.

As the battle to create original content for online video services continues, we get a glimpse into Apple's plans for the coming year.

Apple is going to Hollywood with $1bn to spend on original programming over the next year.

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




Cherniss has been named as head of domestic creative development at Apple, having left his role president and general manager of United States basic cable channel WGN America (WGNA).

These pitch meetings have placed Apple in direct competition with Netflix, HBO and other distributors.

With a $1 billion commitment and TV execs on staff, Apple stands to be a bigger presence in Hollywood. Basically Apple has the power to pull off ambitious projects with big name directors and actors and may even pull off theatrical releases to be eligible for Academy Awards, which is something that Netflix has been wrestling with now.

It's not clear yet how the new shows will be released to Apple customers. This comes as it seeks to double revenue by 2020 from its services business including Apple Music and App Store.

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