Apple to spend US $6 billion to take on Netflix and win Oscars
Do you have difficulty finding a good show or film to watch in the thousands of choices on Netflix, Amazon Prime and HBO Now? Well, Apple is soon joining in with its Apple TV+ in the fall and it wants to make Oscar contender films just like Netflix does.
In a report this year, Apple is the second most valuable brand in the world, having just over $300 billion to its name, it’s not all that surprising that the brand is looking to splash some cash and try out new things. The tech giant at the moment seems to have major Oscar envy, looking at all of Netflix’s success recently and wanting in on the action.
Netflix films in fact were not just nominated for a few Oscars, but won one as well. ‘Roma’ bagged the ‘Best Foreign Film’ award in 2019.
Sources have been suggesting Apple is talking to “elevated” directors about getting the ball rolling on Oscar-winning projects. In a piece from the New York Post, it is explained that: “They are taking meetings and hiring,” one agency source said of Apple, adding that the meetings are being generated by the company’s original feature films unit, headed by Matt Dentler, formerly of iTunes Movies.
It is further suggested that Apple is going for “Focus Features-esque award contenders” as to make a name for itself in film award events.
The tech super power is apparently digging a little into its deep, deep wallets with this one, funding six projects that will cost anywhere from $5 million to $30 million each.
According to Bloomberg, Apple is shelling out more than US $6 billion on all of its original content. This content includes the aforementioned aspiring Oscars films, as well as TV shows such as ‘The Morning Show’ which will star Reese Witherspoon, Steve Carrell and Jennifer Aniston.
Bloomberg goes onto suggest that Apple TV+ will roll out in November and be marketed at around US $9.99, a little less than Netflix pricing at the moment which can go up to US $16 a month.
Apple’s impressive US $6 billion budget may seem like a lot but it’s less than half of Netflix’s budget for its content, standing at US $15 billion.
In the recent months, names like Disney and Apple have started getting the blueprints together to take on Netflix in the streaming game. Disney is hoping to bolster its service with the arsenal of names it owns, including Pixar, Marvel, Fox and Lucasfilm. Though Apple doesn’t have as much intellectual property as Disney, bagging both Aniston and Witherspoon is a good move to draw in an audience.