Apple Inc. will invest more than $1 billion to produce several of its own television shows and films over the next year, which could put the iPhone maker in more direct competition with the likes of Netflix, Hulu and Amazon Prime. According to a new report by the Wall Street Journal, sources familiar with the matter say […]
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Apple has set a budget of roughly $1 billion to procure and produce original content over the next year—a sign of how serious the iPhone maker is about making a splash in Hollywood.
Summary: The iPhone maker has set aside a billion dollars to either create or acquire original content so it can go head-to-head with the likes of Netflix and Amazon, reports the Wall Street Journal.