Apple TV is a piece of hardware, but it could become a new mindset for the tech giant.
Looking to offset slowing sales of iPhones and iPads, Apple is reportedly setting its sights on Hollywood and planning a “significant new business” in original television shows and movies, The Wall Street Journal reported on Thursday.
The Journal said people familiar with the plans said original content would be available to subscribers who are already using Apple Music, the tech giant’s $10-a-month streaming service. That service has struggled to catch up to Spotify, and the hope is that premium shows — similar to HBO’s “Westworld” or Netflix’s “Stranger Things” — could differentiate Apple and attract users.
The report said Apple doesn’t appear ready to spend the big bucks that Amazon, Netflix and the premium cable networks spend annually on critically acclaimed content. But the company has reportedly been in contact with Hollywood veterans and hopes to be able to offer original, scripted content by the end of the year.
Apple Music launched in the summer of 2015 and the Journal notes that revenue for the service rose 22 percent in the quarter ending Sept. 24. But its subscriber base of about 20 million is half that of Spotify.