Apple apparently wants to make a big splash in Hollywood.
The tech giant is ready to spend $1 billion on new Hollywood programing over the next year, the Wall Street Journal reports.
That amount signals how serious Apple is in getting into the original content business. It’s the latest big-name tech company to jump into this area after Netflix showed the benefits that could be reaped with critically and commercially successful shows such as “House of Cards” or “Orange is the New Black.” Since then, Amazon, Hulu and Google’s YouTube have made big bets on their own shows.
Apple declined to comment.
That amount is sufficient to fund as many as 10 shows, according to the WSJ.
Creating popular and critically acclaimed programming is difficult. The company has already released two shows, “Planet of the Apps” and “Carpool Karaoke,” on its Apple Music service. Neither received much praise. The company to help run its programming.
While that amount may seem high, it’s a drop in the bucket compared to the $49 billion to $52 billion in revenue the company expects to generate in just the next quarter.