Wall Street Journal has reported that the tech giant - Apple has set a budget of $1 billion to produce and acquire original content for entertainment, over the next year.
The amount itself indicates the seriousness of the company in getting involved in the entertainment business that creates original content. Apple's powerful marketing and global reach makes the company a considerable competitor where companies are striving to obtain more original content. The figure set by the tech company is half of what HBO spent on content last year, and close to the estimates of what Amazon spent in 2013 for content, the year after announcement of moving to original programming was made.
Apple is the latest big tech company to move into this circle after Netflix demonstrated the benefits of creating widely successful original shows such as 'House of Cards', or 'Orange is the New Black.' Ever since, Youtube, Amazon, and Hulu have made huge bets on their own originally produced and created shows.
With their set budget, Apple has the sufficient funds to procure and produce as many as 10 original tv shows, and be put on the map alongside other entertainment companies that are offering internet-delivered entertainment programs.
As of now, Apple does not have a dedicated platform for their video programs. Moreover, the only original shows they have made thus far is "Planet of the Apps" and "Carpool Karaoke" which was made available in Apple Music, and failed to gain popularity.
While the news is making its way through the internet, it is unclear when exactly this will happen or if it ever will, as Apple has declined to make any comments so far.