Written by: Soumya Sekhar
According to a report by Loup Ventures analyst Gene Munster, Apple might end up investing around $4.2 billion in original content by 2022.
Munster sees the company rebranding Apple Music in the next 2-3 years to grow beyond just songs. An excerpt from his report reads, “Apple should be able to quickly expand their sub base given they have a running start with just over 30 million Apple Music subs that will have access to the video offering for the same $10 per month.”
Earlier this year, Apple was believed to make an investment of as much as $1 billion towards original programming. Munster’s report, however, suggests a higher number. Netflix, on the other hand had announced a budget of $8 billion towards original and licensed content in 2018.