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Apple reportedly investing $1 billion in original video content

By Cookie Monster - on 17 Aug 2017, 1:00am

Apple reportedly investing $1 billion in original video content

Augmented reality (AR) is said to be the next big thing for Apple, but the iPhone maker is also getting serious in another competitive space - original video content. 

The Wall Street Journal (WSJ) claims that Apple has prepared about $1 billion to "procure and produce" content in 2018. Although the amount is half of what HBO spent on production last year, Apple reportedly has plans to launch up to 10 new shows. In addition, Apple SVP Eddy Cue is said to have set targets to offer shows to compete with Game of Thrones. 

Apple has been rumored to be interested in making its own video content since 2015. In January this year, the WSJ reported that Apple had been in talks veteran Hollywood producers for some months about buying rights to scripted TV shows. In February, it hired former Amazon Fire TV chief to lead its Apple TV business. The following month, former YouTube and Spotify executive Shiva Rajaraman joined Apple. Just two months ago, two top Sony TV execs joined Apple to lead its video programming. 

Source: WSJ via 9to5Mac

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