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Apple Is Devoting $1 Billion To Original Series

17 August 2017, 02:36 | Hattie Nash

Apple Reportedly Allocates $1 Billion to Original Video Content

Apple preps $1bn war chest, adds Cherniss

Cherniss has been named as head of domestic creative development at Apple, having left his role president and general manager of USA basic cable channel WGN America (WGNA). Previously, all three Apple recruits worked together to bring Sony shows Underground and Outsiders to WGN, notes MacRumors.

Apple already produces some original content including USA reality show Planet of the Apps, and James Corden's Carpool Karaoke, but they haven't been particularly well received. With a planned $1 billion budget, Apple hopes to deliver shows that can match the same quality of what its competitors can offer. Of course, Apple is coming into this effort years behind its competition, and there's no telling what the company's many Hollywood partners will think about Apple encroaching on their turf.

It's unclear if Apple is planning to launch an entirely new service to replace its somewhat outdated buy-'em-individually iTunes Store or if it will become a part of Apple Music, which is now testing the waters with an exclusive season of James Corden's Carpool Karaoke.

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Apple will devote $1 billion to original movies and series over the next year, according to the Wall Street Journal. If it sees success next year, Apple could easily increase its spending, the reports noted.

However, it will not be as easy as it sounds for Apple. Netflix, meanwhile, is expected to spend more than $6 billion in 2017. Famed investor Mark Cuban says it will produce "the world's first trillionaries", but that should still leave plenty of money for regular investors who make the right trades early. One episode of Game of Thrones can cost more than $10 million to produce, while even comedies can cost over $2 million per episode.

Breaking into the already crowded Hollywood won't be easy and Apple's investment is about on par with the amount Amazon spent and half of Netflix's investment when it launched House of Cards and Orange is the New Black.

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