Apple has increased the budget for the production of original content for streaming service Apple TV + by $ 5 billion. At the same time, the company will continue to focus on quality, and not on the number of projects. This was reported by the Financial Times, citing its own sources.
According to FT, the budget has grown due to an increase in the number of series in production and inflating costs. Apparently, Apple will release several of the most expensive shows in history at once.
The interlocutor of the newspaper cited the example of “The Morning Show” with Reese Witherspoon and Jennifer Aniston in the lead roles, which cost “hundreds of millions of dollars”. Later, Bloomberg sources announced a budget of $ 300 million for two seasons: thus, they will spend more on one episode of the series than on the series of the last season of Game of Thrones, which is considered the most expensive in television history.
In 2017, according to media reports, Apple was going to spend about a billion dollars on original content for its streaming service. Then the company hired former Sony Pictures Television senior executives to attract famous stars and authors to the platform.
Apple introduced the service in March 2019. The company announced the launch in the spring, but did not disclose specific dates and prices, nor did it show project trailers. Head of Apple Services Eddie Kew later said that Apple plans to add content more slowly than competitors and will focus on quality instead of quantity.
As noted at The Verge, with an increase in costs, Apple approached the Netflix budget from 2012-2013. Moreover, compared with competitors, the company still spends much less money.
Netflix will spend $ 14 billion on original content in 2019, and Disney will invest $ 24 billion in streaming and rental movies. The budget for Amazon Prime Video is unknown, but in 2019 the company signed a $ 150 million contract with the authors of World Wild West Jonathan Nolan and Lisa Joy.