Tuesday, August 20, 2019

Apple splashes $6bn on new shows in streaming wars | FT

A related Benedict Evans tweet: "If Apple has ‘committed’ $6bn to TV, that won’t all be in one year, so for comparison purposes it’s a lower number. Meanwhile Netflix will apparently spend $15bn this year and has over $20bn of content on the balance sheet. Not quite play money but not a full-on attack on Netflix"; also see Bloomberg: Apple targeting $9.99 per month for Apple TV+, launching in November with 5 shows | 9to5Mac
"Apple has committed more than $6bn for original shows and movies ahead of the launch of its new video streaming service, a ballooning budget aimed at catching up with the likes of Netflix, Disney and AT&T-owned HBO.

The iPhone maker has been preparing its foray into media for years, after hiring Jamie Erlicht and Zack Van Amburg, two well-known executives from Sony Pictures Television, to lead the charge in 2017.

The pair were initially armed with $1bn to commission original content over their first year but the budget has expanded and the total committed so far has passed $6bn, according to people familiar with the matter."
Apple splashes $6bn on new shows in streaming wars | FT

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