Apple will reportedly spend $1bn on orignal programming next year

The iconic Apple

The Cupertino giant is spending $1 billion to "procure and produce" original and acquired content in the name of TV programming over the next year. The planned investment in Hollywood reportedly could result in as many as 10 new shows.

The WSJ also pointed out that Apple's budget is equivalent to what Amazon.com Inc. spent on content in 2013, when it began its move into original programming in earnest. Apple could launch up to ten new shows, with Apple SVP Eddy Cue said to have ambitions to offer shows that rival Game of Thrones.

According to the Hollywood Reporter, Cherniss will take on the role of chief creative/head of USA programming and will report directly to Jamie Erlicht and Zack Van Amburg, two former Sony Pictures Television executives Apple hired earlier this summer. Planet of the Apps was criticized for reasons including a non tech savvy panel and the more recent Carpool Karaoke episodes have been met with less than impressive comments. The only person who's come close to topping them is Amazon, but reports claim Apple is gunning for the big chair. This would see the tech giants go up against competitors like Netflix for high value streaming services within the next 12 months. Now, the iPhone maker will invest in up to 10 television series.

Apple's effort to conquer the TV space has not been very successful as of yet.

Apple appears to be taking original content production very seriously.

That said, Apple could still do a lot with its planned budget. In comparison, Netflix is expected to spend about $6 billion this year. It's unclear if the company will rebrand the service once several new video offerings hit the airwaves, or if video could be its own standalone service. The shows will likely air on one of Apple's existing platforms or perhaps a new, video-focused endeavor. This comes as it seeks to double revenue by 2020 from its services business including Apple Music and App Store.

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