Apple to take on Netflix in €1bn TV move
Apple is to go head to head with Netflix and invest €1bn in original programming.
According to industry reports in the US, the tech giant aims to compete with Netflix, Amazon and 'Game Of Thrones' broadcaster HBO by investing heavily in new TV shows and movies of its own.
The company has already dipped its toe into making TV content with the release of reality shows 'Planet of the Apps' and 'Carpool Karaoke' this year. Apple Music executive Jimmy Iovine said in April that Apple would release as many as 10 original shows by the end of the year.
The company has hired top Sony TV executives Jamie Erlicht and Zack Van Amburg to lead the new venture.
Apple's move signals a new impetus in global competition for TV and movie content programming.
Netflix executives have said that the online network will spend over €5bn on programming this year, much of it on its own 'original content' TV series such as 'House of Cards' and 'Stranger Things'.
Last week, Disney announced plans for its own TV channels for its Pixar and Disney content.