Apple reportedly creating billion dollar budget for original content | Major Businesses | Business | News | Rapid TV News
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CE giant Apple has reportedly created a budget of $1 billion for original content for the next year to beef up its TV offer.

apple tv 17 aug 2017According to the Wall Street Journal, citing inside sources, the content initiative will managed by Zach Van Amburg and Jamie Erlicht, who have “begun meeting with Hollywood agents and holding discussions about shows Apple could acquire.” The two producers joined Apple from Sony in June.

Apple could use the funds to acquire and/or produce up to ten TV shows, sources said, either to be included in its existing offerings, or to be distributed via a new Apple OTT service.

The WSJ also pointed out that Apple’s budget is equivalent to what Inc. spent on content in 2013, when it began its move into original programming in earnest.