When you’re one of the wealthiest companies on the planet, the idea of spending whatever money it takes to make something work is a no-brainer. So, when Apple decided to enter the Streaming Wars, fighting against Netflix, Hulu, Disney, Amazon, Warner Bros, and NBCUniversal (just to name several), everyone assumed that Apple would be willing to write some massive checks to make sure AppleTV+ is competitive. But holy cow, the tech company really is spending a lot of cash.
The Financial Times (via Bloomberg) is reporting that Apple is spending upwards of $6 billion on original streaming content for its TV+ service. That’s up from the previously reported number of $1 billion. We’re not sure if that’s just over the next year or maybe three years, but $6 billion is nothing to scoff at. When compared to the big name in streaming, Netflix (who is spending $14 billion this year), the number might seem marginal, but let’s be real, $6 billion is more than most studios will spend this year on content, by a healthy margin.
Part of that ridiculous spending is reportedly $300 million that Apple has set aside for two seasons of the apparent crown jewel of the company’s streaming content, “The Morning Show.” The series, which stars Jennifer Aniston, Reese Witherspoon, Steve Carell, and others, is said to be a dramatic behind-the-scenes look at TV morning news. And with a cast like that, it would be difficult for Apple to not have awards aspirations for the series, which is obviously why the tech giant is willing to spend so much money for two seasons.
So, how is Apple hoping to recoup some of this $6 billion in spending? Well, AppleTV+, despite early reports to the contrary, is going to cost subscribers a monthly fee. Right now, the report says that TV+ might come with a $9.99 per month fee for the original programming that will be accessible on Apple devices, as well as some smart TVs and streaming boxes. That puts the service in line with products like Netflix and Amazon Prime, but well above Disney+ (which will be $6.99).
Speaking of Disney+, the final bit of AppleTV+ news is that the streaming service is expected to launch in November, which would coincide with Disney’s streaming launch that same month. Will the Streaming Wars kick into overdrive this fall? We’ll find out soon enough, it appears.