Apple is ready to spend $1 billion in the next year on original television and streaming content.
The billion-dollar investment is intended to fund as many as 10 shows, with Apple aiming for content like “House of Cards” from Netflix. Apple tapped two former Sony chiefs, who were behind shows like “Breaking Bad” and “The Crown,” to lead its original programming.
Apple’s billion-dollar investment also pales in comparison to the amount other studios are spending. Amazon is projected to spend $4.5 billion this year on content, and HBO spent $2 billion last year.