Apple reportedly sets  billion budget for original programming development

Apple has reportedly set a budget of $1 billion for purchasing and producing original shows for the next year. The company is apparently looking to produce as many as 10 programs in that time.

From The Wall Street Journal:

Apple could acquire and produce as many as 10 television shows, according to the people familiar with the plan, helping fulfill Apple Senior Vice President Eddy Cue's vision of offering high-quality video—similar to shows such as HBO's "Game of Thrones"—on the company's streaming-music service or a new, video-focused service.

VFX artist Joe Rosensteel puts Apple's budget in perspective compared to other big players:

Apple has recently made some major hires for its original content team, hiring two former Sony executives to lead the team, along with former WGN America head Matt Cherniss to lead the program development efforts. Apple's first major original series, Planet of the Apps and Carpool Karaoke, have premiered on Apple Music over the last couple of months.