Apple has been going through a major strategic shift in recent years as the company is trying to make online services a big mode of cash inflow.
One of the highlights of Apple’s ambitious plans is Apple TV+, which it announced back in March. Right now there aren’t any concrete details available on its pricing or release date, with the exception of Apple saying it’s “coming later this year.”
Now, as per a report by the NY Post, the iPhone-maker is planning to take its new streaming service closer to reality. Apple is in talks with some of the leading film-making talents in Hollywood so that the company could release 6 small-budget movies per year for its streaming service.
It is said that for each movie, Apple plans to flush between $5 to $30 million in cash. As obvious as it sounds, Apple does want to mark its presence on the global stage by making those movies Oscar-worthy. However, this is separate from the multi-year movie deal Apple signed with A24 in November last year.
Apple’s immediate competitors are Netflix and Disney, who exist on the same soil. While Netflix’s Roma has made a round of applause at the 2019 Oscars, Disney is also about to launch a new streaming service on the market.
To create original TV shows, Apple is working with many acclaimed directors, actors, and producers including Oscar-fame Steven Spielberg, Oprah Winfrey, and Reese Witherspoon.
However, there is one issue that Apple needs to tackle if it wants to keep people glued to its service. Apart from the original content, Apple’s service doesn’t do anything that people could watch. In other words, the endless list of titles you can browse on Netflix and other services.
The last thing it can do is purchase a content library from the likes of MGM, Lionsgate, and Sony Pictures, analyst Dan Ives of Wedbush Securities told the NY Post.