AAPL, call home.
In my 15 August blog, I noted Netflix had committed to spend around US$15.7 billion (essentially 22% of its equity capitalisation) to protect its competitive advantage.
Now Apple is jumping onto the Hollywood bandwagon and according to Bloomberg will spend at least US$1 billion next year on original productions.
Assuming the deal completes, Apple will start with a remake of Steven Spielberg's "Amazing Stories" anthology - at a mooted US$5 million per episode.
While the deal may not be 100% complete, the move clearly shows Apple's competitive intent.
The battle is growing - Netflix, Amazon, Disney, HBO, FB, Hulu and now Apple. Who's next?
Read the article here.