Apple gets serious about making TV shows to compete with HBO, Netflix
Jan 13, 2017 10:27 AM EST
Apple may finally get serious about launching its own programming business, including TV shows and films. According to a report from the Wall Street Journal, the company is already in talks with studio producers and marketers about licensing series and wants to start offering original scripted content by the end of 2017.
The entry into content creation industry could potentially help Apple compete better with streaming services rival like Spotify. In fact, Spotify announced plans to launch 12 original series last year.
During Apple's third-quarter earnings turnout, Apple's CEO Tim Cook released the news that the company might actively pursue content creation. He stated that he sees great opportunity in producing and owning its original content.
Although Apple is moving on a smaller scale unlike giants like Amazon, Netflix and HBO that spends billions on original shows and films, the company continues the push to become an SVOD programmer. The company is planning to finance only few series and movies that will suffice to convince consumers into subscribing to its music streaming service.
"I would confirm that television has intense interest with me and many other people here. In terms of owning content and creating content, we have started with focusing on some original content, as you point out," said Cook, according to a Seeking Alpha transcript. Cook believes that it is a great opportunity for both Apple and producers from a perspective of creation and ownership.
Despite Apple's core business of making products and distributing for the TV and music industry, the company has long been noticed as a quiet giant whose entry into the content creation industry would be a massive game changer. While Netflix and HBO are most likely than not worried about Apple's entry, it is probable that Spotify might be most at risk.