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Apple commits $4.2 bn for original content

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MUMBAI: Apple can’t get enough of taking more bites. The Cupertino-based company is reportedly spending a whopping $4.2 billion a year on coming up with original content by 2022.

According to a report in Variety, this amount is much higher than the original commitment of $1 billion in 2018. Despite the effort, Apple will still lag the budgets set by video on demand giants Amazon and Netflix. Amazon’s pocket will turn up $8.3 billion for original video content, the highest for any tech giant. This will also shadow Netflix’s $6.8 billion margin.

Much of Apple’s current programming has been music-based but the company is looking at looking eye-to-eye with contemporaries – Amazon, Netflix and Hulu. This will involve beating them where are best – shows and movies. Apple Music will be rebranded in the next 2-3 years which will also give it a headstart with its 30 million subscriber base. They will get video content access at just $10 a month.

The idea behind focussing on a new territory is to give a boost to its services vertical, which is expected to make up 14 per cent of the revenue in 2017.

For now the company has planned two offerings, Amazing Stories reboot from Steven Spielberg and a news-business comedy with Jennifer Aniston and Reese Witherspoon.

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