Apple has hinted at a TV streaming service to take on the likes of Netflix, Amazon and other major streaming players.
Apple was reported to be placing a big bet on original content. There were reports in a section of media that Apple will be spending more than $1 billion this year to compete with the likes of HBO, Amazon, and Netflix. It has been like a new announcement of a new show coming to Apple almost every day.
After a strong quarter for revenue growth, with revenue from fast-growing services like music and apps climbing 31% year-over-year to $7.27 billion, Apple had hinted on an earnings call with analysts Tuesday night about a TV streaming service that could take on existing players, Sporttechie.com has reported.
In recent months, Apple has also hired people in the media and TV worlds, including the former co-presidents of Sony Pictures Television, Jamie Erlicht and Zack Van Amburg, who have been inking production deals with Hollywood heavyweights, including Oprah Winfrey. This aggression on content acquisition targeted as the live streaming vertical is also being seen as a hit about Apple getting into live sports streaming.
Apple CEO Tim Cook, answering a question from an analyst on Apple’s multi-year partnership with Winfrey, has revealed that the brand is looking at “some great original content” and added that the company is cooking up something that will leverage the broadcast and production talent that is increasingly part of the team at Cupertino.
“As you know, we hired two highly respected television executives last year and they have been here now for several months and have been working on a project that we’re not really ready to share all the details of it yet, but I couldn’t be more excited about what’s going on there and we’ve got great talent in the area that we’ve sourced from different places and feel really good about what we will eventually offer,” Cook said. “In terms of the sort of the key catalysts and the changes, the cord cutting in our view is only going to accelerate and probably accelerate at a much faster rate than is widely thought. We’re seeing the things that we have on the periphery of this like Apple TV, units and revenue grew by very strong double digits, very, very strong double digits in Q3.”
The company seems to be looking to build a Netflix-like service that it will then widely distribute via Apple TV.