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Wednesday, August 21, 2019

Report: Apple Has Committed $6 Billion to Originals

The Financial Times reported that Apple has committed to spend $6 billion on original TV shows and movies for its upcoming Apple TV+ service, which will launch in November. That’s up from the $1 billion it was reportedly budgeting just 2 years ago. The increase no doubt reflects the hard reality that has set in at Apple about what it’s going to cost to compete, rather than just dip its toe in the SVOD water.

Included in the budget is a $300 million commitment for 20 episodes of “The Morning Show” with Jennifer Aniston, Reese Witherspoon and Steve Carrell (working out to $15 million per episode). Bloomberg separately reported the monthly price will be $9.99, above the introductory $6.99 per month Disney+ price but below Netflix’s $12.99 per month price. Though Apple teased a number of its upcoming shows at its big March media event, it didn’t reveal anything on pricing.

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