Apple Music News 2017: Apple Ventures Into Creating Original Shows With $1 Billion Investment
Apple will reportedly venture into an entirely new field of business and will appropriate $1 billion-worth of investments for the production of original shows.
The allocation of that sizable investment proves that the Cupertino, California, technology giant is seriously looking into bringing original content exclusively for subscribers of their streaming services such as Apple Music.
Sources "familiar with the matter" have confirmed the report to several publications such as Wall Street Journal and Bloomberg. But it was also revealed that the $1 billion fund for their new investment is still awaiting finalization.
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However, Apple declined to provide a statement to Wall Street Journal about the reports.
Added to the reported $1 billion investment, Apple has also started acquiring people knowledgeable about the industry. Reports have it that Apple now has a Los Angeles-based office headed by Jamie Erlicht and Zack Van Amburg — both were former bosses from Sony's TV production division.
Erlicht and Amburg were reportedly hired in June and were tasked to lead future TV show and movie production projects. They will also be scouting for materials that Apple can buy and offer as exclusive content for their subscribers in Apple Music and "other future video streaming products," according to Bloomberg's sources.
Apple Music subscribers may also recall that the company has been slowly starting to produce or acquire exclusive shows in the past months.
Earlier this year, Apple announced that they were adapting the trending segment from "The Late Late Show with James Corden" known as "Carpool Karaoke."
Its original format featured Corden driving around (typically in Los Angeles) with stars such as Justin Bieber, Adele, Lady Gaga, and more. On the other hand, Apple somewhat reinvented the show with its original producers and released a full-duration series format of "Carpool Karaoke" featuring 16 celebrity pairings not limited to the music industry.
There were previous episodes that featured "Game of Thrones'" Sophie Turner and Maisie Williams, Alicia Keys and John Legend with Taraji P. Henson, Metallica and Billy Eichner, John Cena and Shaquille O'Neal, and more.
Then, in June, Apple also launched their original Apple Music-exclusive TV series "Planet of the Apps." It took on a reality show format where app developers and creators pitched their ideas to a panel of judges including Jessica Alba, Will.i.am, Gwyneth Paltrow and more.
