Apple, which entered the online music streaming business last year, now wants to produce its own TV shows. A report claims that the Cupertino-based company is in talks with TV producers and Hollywood studios about investing in TV shows to make available on iTunes.
The Cupertino giant is reportedly contemplating entering the territory of Amazon and Netflix, two companies that offer online streaming as well as produce some TV shows. The Street reports that Applewill make its TV shows available exclusively on iTunes. The official announcement regarding this could happen as soon as September, the report added.
Amazon has produced a number of shows including Transparent and Mozart in the Jungle – two TV shows that have been very well received by users and critics alike. Netflix has produced quite a number of shows as well, including Orange is the New Black, and Kevin Spacey-helmed House of Cards.
The report says the conversations with TV producers and Hollywood studios are being led by Apple Senior Vice President of Internet Software and Services, Eddy Cue, and VP of iTunes Content, Robert Kondrk.
This isn’t the first time we have heard of such a possibility, do note. Apple has long been believed to be interested in producing or investing in TV shows. In the past, many Hollywood players have also said that they would like to partner with Apple on this. A CBS executive said last year that they would probably sign a deal with Apple if such an opportunity presents itself.
It won’t be surprising for Apple to make its own shows. The company’s iTunes service is slowly losing lustre with users flocking to Netflix, Hulu, and Amazon for their content. With the launch of a new Apple TV last year, Apple made a major step in the entertainment business, hinting at its intention to own most of the ecosystem, if not all. Having its own TV shows will enable the company to move more users to iTunes. Entertainment business could also give the company a new revenue channel, something it must be in a dire need of in the light of slow iPhone sales growth.