Expanding Music Platform, Apple Wants to Build Business Around Original Video Content
Apple plans to build a business around original television content, sources say. According to The Wall Street Journal, “people familiar with the matter” believe Apple wants to be a legitimate contender in Hollywood.
Apple’s foray into visual content would extend from its Music platform, a monthly subscription service similar to Spotify. As the leader in the space, Spotify has maintained its lead over Apple Music. Apple has 20 million subscribers while Spotify has 40 million. Factor in the success of Netflix and Amazon Prime Video, it’s clear Apple wants a bigger slice of the pie, especially as sales of its flagship product, the iPhone, slow.
The WSJ suggests that Apple wants to product shows like HBO’s “Westworld” and Netflix’s “Stranger Things.” But the company has been hesitant to acquire scripts from outsiders. Part of this may be because Apple wants to create content in-house. Another reason may be because Apple is still ironing out the kinks of operating this type of business.
With Apple Music and Apple TV, the company is well positioned to launch a business around video content. But we all know Apple does not like to rush into things.
