After poaching two TV veterans in June to run its TV and movie business, Apple is ready to drop $1 billion in the next year to make original content, according to a new report from The Wall Street Journal.
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Apple will become a major player in Hollywood by spending $1 billion on original TV shows and movies
After poaching two TV veterans in June to run its TV and movie business, Apple is ready to drop $1 billion in the next year to make original content
That makes Apple a real player in Hollywood, something the town has been anticipating ever since Netflix and Amazon crashed into the market with big budgets.
Apple's $1 billion is about half of what HBO spends on programming (about $2 billion in 2016, and a "couple billion dollars" this year). Earlier this year, JPMorgan estimated that Amazon would spend $4.5 billion on video in 2017, though we don't have an official number. And Netflix content chief Ted Sarandos said recently that Netflix will spend about $7 billion next year for content.
The Journal says this $1 billion could go to fund "
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