It might not be a massive $6 billion Netflix plans to splurge on original content this year, or the $10 million per episode HBO dedicated to a single show AKA Game of Thrones Season 7, but Apple has entered the streaming arena and its baby steps may soon pose a threat to existing players in the streaming market.
We already knew that Apple Music, the Cupertino tech giant’s strange choice of platform for video streaming, is getting a complete overhaul with iOS 11 thanks to previous revelations by Apple Music executive Jimmy Iovine, and now, new reports indicate the the company has a budget of $1 billion for original shows and content.over the next 12 months.
At first glance, Apple’s budget for original content seems a little underwhelming, seeing that it will look to compete with the likes of Amazon Prime Video, Netflix, HBO, and other popular streaming services, especially in its home market. However, it wouldn’t take long for Apple to increase its spending once it sees signs of success and growth. That said, Apple has also hired a stellar team of executives, formerly from Sony corp, to start purchasing and producing streaming content. Jamie Erlicht and Zack Van, the executives behind the success of shows like Breaking Bad, Netflix’s The Crown and Amazon’s Sneaky Pete, are the one who will be doing Apple’s bidding for original shows and possibly films.
“I’m trying to help Apple Music be an overall movement in popular culture, everything from unsigned bands to video. We have a lot of plans,” proclaimed Iovine back in April. At the time, he had also noted that Apple Music is set to get a makeover with iOS 11 with a concentrated push for videos. Shows coming to the platform include a documentary on Puff Daddy called ‘Can't Stop, Won't Stop: A Bad Boy Story’ and another on American record label, Cash Money Records. The platform currently streams two original shows namely Carpool Karaoke and Planet Of The Apps, both of which have received a lukewarm response so far.
Apple is also not the only new entrant in the original video content space. Facebook is also looking to wet its feet with original episodic offerings and has already announced and started testing a new Watch platform for streaming live and recorded shows. The Facebook Watch platform will be available on the social network's mobile, desktop and TV apps and will initially be made up of content from select creators in the US.
Needless to say, the next few years will be very interesting as the streaming market shapes up with big players like Apple and Facebook in the mix. Binge watchers will definitely be spoilt for choice, but as far as the eye can see content will remain king and that's where companies are expected to compete aggressively.