Apple Embarks On Emmy Quest With Big Bet On Video Streaming

Apple Embarks On Emmy Quest With Big Bet On Video Streaming

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Television is one of the few screens that has Apple hasn’t conquered, but that may soon change. The world’s richest company appears ready to aim for its own Emmy-worthy programming along the lines of HBO’s “Game of Thrones” and Netflix’s “Stranger Things.”

Apple lured away two longtime TV executives Jaime Erlicht and Zack Van Amburg from Sony Corp. in June and has given them $1 billion to spend on original shows during the next year, according to a Wall Street Journal report quoting unnamed people.

The programming would only be available on a subscription channel, most likely bundled with the company’s existing Apple Music streaming service. Apple declined to comment.

While $1 billion is a lot of money, it’s a drop in the bucket for Apple and its $262 billion cash hoard. But it’s still enough to vault Apple into the top tier of tech-industry outsiders producing their own slates of television shows.

HISTORY NOT REPEATING

Hollywood has long shuddered at the thought of Apple training its sights on TV the way it once did on the music business.

Almost 15 years ago, Apple’s then-CEO Steve Jobs convinced record labels to let the company sell digital music on its iTunes store for 99 cents a single, a deal the music industry was happy to take in the face of growing music piracy enabled by Napster. Over time, though, Apple’s dominance in digital music chafed music executives, who saw the company siphoning off a chunk of their profits.