Apple Has Increased the Cost of Video Content by $5 Billion
According to the Financial Times report, Apple has increased its initial budget for video content by another $5 billion. They made this decision to compete with industry giants such as Amazon, Disney, HBO, Netflix, and Hulu. The company initially allocated $1 billion to former Sony Pictures Television executives, Jamie Erlicht and Zack Van Amburg, to bring well-known Hollywood creators and stars to their platform. According to FT, this figure soon jumped to $6 billion, as more shows were advancing in production and their budgets were increasing. For example, a high-profile comedy-drama with the participation of such stars as Jennifer Aniston, Reese Witherspoon and Steve Carrell called The Morning Show cost Apple hundreds of millions of dollars, FT reports. Besides, Bloomberg reports that Apple spends $300 million in just the first two seasons of this show. This makes it more expensive for every episode than the final game of the Game of Thrones HBO, which has a budget of about $15 million per episode and is considered the most expensive television season in history. Another indecently expensive project is the sci-fi show “See” featuring Jason Momoa, which costs about $15 million per episode, which also makes it more expensive than the final GoT season. Apple’s willingness to spend huge amounts of money on creating original content immediately shows how intense streaming wars between industry giants will be in the coming months and years.