Apple Reportedly Increasing Budget for Original Apple TV+ Content by Six Times

Apple Reportedly Increasing Budget for Original Apple TV+ Content by Six Times

In a bid to give over-the-top streaming services from Netflix, HBO, Amazon and Hulu a run for their money, Apple has committed $6 billion to its original TV shows and movies budget for its upcoming Apple TV+ service, according to a new report from the Financial Times. This is a huge jump in Apple's budget for original shows as the company earlier set aside $1 billion for bringing renowned creators and actors to its platform, The Verge reported on Monday.

One comedy-drama called "The Morning Show", featuring Jennifer Aniston, Reese Witherspoon, and Steve Carrell, has cost Apple hundreds of millions of dollars, said the report quoting the FT. Apple announced its TV+ service at an event in March. The on-demand subscription service will come with brand new programming from the world's celebrated artists including Oprah Winfrey, Steven Spielberg, Apple said.

While the company announced that the service will start rolling out from autumn this year, it did not disclose any exact release date or price for the service. The FT report indicates that Apple may release it before Disney+ launches on November 12.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow on Twitter, , Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.