Apple's Original Content Budget Is Going Up

They may have different objectives, but tech giants are all jumping into Hollywood with open wallets. Apple (NASDAQ: AAPL) has been slowly working on original content for a couple of years now to bundle with Apple Music, in a bizarre effort to attract subscribers to its music streaming service with TV content. The first show, Planet of the Apps, debuted over the summer to horrendous reviews. The second show, Carpool Karaoke, was released this month to a similarly cold reception.

Facebook is also dabbling with original content as it launches its new Watch video platform to compete with YouTube. The competition may not necessarily overlap in the consumer-facing services, but when it comes to buying content from Hollywood, all the newfound buyers entering the market may push up the value of original content.

Image source: Apple.

Source: Fool.com