Apple set a $1B programming budget for the year, report says

apple store fifth avenue new york
The content could be housed on Apple’s existing music streaming platform or a new video-focused service, according to the report.

Apple has reportedly carved out a $1 billion budget for original programming over the next year, putting it closer to the spending range of rivals like Amazon and Netflix.

According to The Wall Street Journal, Apple could use the budget to acquire and produce as many as 10 TV series. And the budget would be in the hands of Jamie Erlicht and Zack Van Amburg, the two Sony Pictures Television executives Apple lured away in June.

“Jamie and Zack are two of the most talented TV executives in the world and have been instrumental in making this the golden age of television,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services, in a statement. “We have exciting plans in store for customers and can’t wait for them to bring their expertise to Apple—there is much more to come.”

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

“It will be an honor to be part of the Apple team,” said Erlicht in a statement. “We want to bring to video what Apple has been so successful with in their other services and consumer products—unparalleled quality.”

RELATED: Apple lures away 2 Sony TV executives to lead programming business

The content could be housed on Apple’s existing music streaming platform or a new video-focused service, according to the report.

The report comes as Apple has begun to debut its own original series. In June, the company debuted “Planet of the Apps,” a reality competition series produced by Ben Silverman and hosted by Will.i.am, Jessica Alba, Gwyneth Paltrow and tech investor Gary Vaynerchuk. Earlier this month, Apple debuted a spinoff series for “Carpool Karaoke,” the popular recurring skit from “The Late Late Show with James Corden.”

As the report points out, a $1 billion content budget from Apple is about half of what Time Warner’s HBO spent last year on programming. But it’s still well short of the $6 billion Netflix plans to spend this year and the estimated $4.5 billion Amazon intends to spend.

Earlier this year, Cue said Apple isn’t interested in pursuing a massive content slate comparable to Netflix’s or Amazon’s.

“We are trying to do something that’s unique, that takes advantage of our platform and then really brings culture to it, and—right now we think we could do that with partners like [Silverman]. We don’t see that anywhere else,” Cue told VentureBeat.

Suggested Articles

Disney+ finally made its debut this week and now it’s a whole new world for streaming services in the U.S.

The wide proliferation of different streaming services has led to a rebundling trend that Apple could soon follow.

Thanks largely to a drastic video subscriber drop off at AT&T, traditional pay TV providers lost close to 2 million subscribers combined in Q3.