APPLE PLANS TO INVEST $1 BILLION IN ORIGINAL TV SHOWS AND FILMS

According to a recent report out by Bloomberg, Apple is planning on investing over $1 billion on original programming over the next year. This move is the first major step in taking on competitors like Amazon and Netflix. A new Los Angeles-based team, led by former Sony Corp. television executives Jamie Erlicht and Zack Van Amburg, who were hired in June, will produce and buy television shows and films for Apple Music and other future video streaming products.  Apple has also brought on Matt Cherniss who was recently at Tribune Media’s WGN America to head development. Apple will also continue to be equally aggressive with their hiring.