Apple Sets $1 Billion Budget For Original Content
It was reported earlier that Apple had the intentions of getting into TV & film world. They are planning to compete with the streaming juggernauts like Netflix, Amazon Prime, Hulu, etc. Apple announced they are going to crack the piggy bank and spend $1 billion in the next year on creating new content. Premium Channel HBO is reported to spend around $2 billion a year on original content. Netflix plans to spend about $7 Billion on creating new content.
Premium cable channel HBO is reported to spend around $2 billion a year on original content. Netflix plans to spend about $7 Billion on creating new content. So I think it is a good start for Apple to come out the gate spending just as much as the major players in the industry already.
Spending is one thing, but the content has to be good. Apple truly needs one hit show to turn this project into a success. Apple wants their Apple Music subscription service to be the one stop shop for multimedia entertainment. Apple is assembling their team and they are getting the best of the best. Apple has acquired the former WGN America president Matt Cherniss. They have also acquired the former president’s of Sony Pictures, Zack Van Amburg, and Jamie Erlicht.
It will be interesting to see the type of shows and movies that Apple manages to create.