Home > Brands > Apple > Apple To Invest $1 Billion In Original TV & Movies

Apple To Invest $1 Billion In Original TV & Movies

In a bid to compete with Amazon and Netflix’s video streaming service, leaked information has revealed Apple’s plans to invest $1 billion in original programming (TV shows & film) within the next 12 months.

Apple aims to double its services business revenue by 2020, inclusive of Apple Music and its App Store.

It comes following the recruitment of former Sony Corp TV executives in June, Jamie Erlicht and Zack Van Amburg, known for their involvement in hit TV-series ‘Breaking Bad’.

Erlicht and Van Amburg will lead a Los-Angeles based team, with the aim of producing and buying TV shows and movies for Apple Music, plus any future video streaming offerings.

Earlier in April, Apple informed Bloomberg it would release 10 original shows by the end of the year.

Whilst reports indicate the $1 billion budget is still being finalised, compared to the likes of Netflix and Amazon, the investment is considerably less that the $6 billion and $4.5 billion respectively, each intends to spend on original programming by year’s end.

original programming

Source: Bloomberg

Reports state that Apple is still recruiting aggressively for the team, with former president of Tribune Media Co.’s WGN America cable network, Matt Cherniss, named to head development.

You may also like
Foxconn Prepared To Move Apple Out Of China
Netflix Finally Sets Up Local Office Ahead Of Disney+ Fight
Apple Accused Of Censoring Videos Mocking Pricey Stand
Apple Wants Developers To Put Its Login Above Google, Facebook
New Chromebooks Land In Australia, But Still No Assistant