With almost all big Tech companies getting involved in the digital streaming platform, Apple jumped on the bandwagon before they would be left out and launched the Apple+ channel.
The multibillion-dollar company has set a deadline of two months in which they will be launching their streaming platform to tap into a market that has already Amazon, Hulu, Fortnite and big market shareholder Netflix to try and fend off Disney Plus that will be launching in November.
The Financial Times offers details on Apple’s investment in streaming media. According to the report, Apple’s spending on original TV shows and movies has spiked to over $6 billion.
The report cites people familiar with the matter and says that Apple’s ballooning original content budget is part of its efforts to keep up with Netflix, HBO, and Disney. A report in 2017 said that Apple was looking to spend $1 billion on original content, but it has clearly since surpassed that.
Apple released the first full-length trailer for its The Morning Show drama starring Reese Witherspoon, Jennifer Aniston, and Steve Carell. That show is said to be one of the biggest investments for Apple, with per-episode spending surpassing that of Game of Thrones
See, a drama starring Jason Momoa is also said to be an expensive show for Apple TV+. A report from The Wall Street Journal earlier this year pegged that show as having a budget of $15 million per episode.
Apple’s $6 billion budget ranks below Netflix’s expected content spending of $15 billion for this year. On the other hand, Apple is said to be winning over many content creators because of how it structures deals.
Netflix tends to pay content creators over several years. Apple, however, pays earlier in the process, “once certain milestones are hit,” the report says. This, plus its recent spending splurge, has “raised the bar for the price of television shows,” according to industry executives.
As for the launch, Apple is reportedly looking to get out ahead of Disney+, which launches on November 12th. It is expected that an Apple TV+ launch will happen sometime within the next two months.
Author: Moses Echodu
Moses is an avid Sports and Tech enthusiast. He loves to keep up to date with all the latest information and research on some of the most compelling stories.