A recent news report claims Apple has dedicated a whopping $6 billion to its original content budget, after it initially set it at $1 billion…
The streaming wars are just in their early stages and all signs indicate the battles will come with huge price tags. A recent report by the Financial Times states Apple has raised its original content budget from $1 billion to $6 billion.
Apple Commits $6 Billion Original Content Budget to Compete against Streaming Rivals
The reason for such a dramatic leap in cost is due to the company’s slate of show development. As shows have gone through production, their budgets have blown out of proportion.
One example is The Morning Show, staring Jennifer Aniston, Reese Witherspoon, and Steve Carrell. It’s reportedly cost hundreds of millions, with Bloomberg claiming the company has already spent $300 million on the first two seasons.
Meanwhile, rivals are also spending big bucks. Amazon reached an estimated deal with Westworld creators Lisa Joy and Jonathan Nolan for $150 million.
Also Netflix, which is forecast to spend over $14 billion this year on original content, just committed between $200 million to $250 million to wrap-up a deal with Game of Thrones showrunners David Benioff and DB Weiss.
Disney is likewise on the bandwagon, expected to spend about $24 billion this year.