Apple Inc looks interested in entering the original video content market, as it is believed that the USA tech giant has set aside around $1 billion to spend on Hollywood. Those kinds of shows-scripted comedies and dramas-are expensive to produce, and we've seen Netflix's annual budget for original programming increase over the past few years to accommodate that. Though both shows have received very poor critical reception, this surely has not discouraged Apple.
Carving out a space in the original programming space could prove hard for Apple.
There is no reliable information on how Apple plans to disseminate these shows, though Apple TV - or a new dedicated channel on it - makes the most sense.
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Apple doesn't have that - but it does have iPhones in hundreds of millions of hands. The Wall Street Journal reported the new budget earlier Wednesday. Netflix, meanwhile, is spending $6 billion this year on original content, and Time Warner's HBO is shelling out around $2 billion.
Apple in June premiered Planet of the Apps, an unscripted reality television show in the same vein as Shark Tank. The company is reportedly working on new scripted series featuring Dr. Dre. Based on the popular segment from The Late Late Show with James Corden, the series features 16 celebrity pairings "riding along in a auto together as they sing tunes from their personal playlists and surprise fans who don't expect to see big stars belting out tunes one lane over", Apple said.
"Content is a vital missing link that could help Apple complete a powerful ecosystem of programming, devices and services", said eMarketer principal analyst Paul Verna.
All the action in the premium subscription video services space puts the challenges facing traditional TV into even higher relief with falling ratings and advertisers looking for lowered rates for linear TV ad spots. Netflix and Amazon are the furthest along in this effort.