The Wall Street Journal reports the funds could create as many as 10 new shows if Apple looks to make premium content to compete with HBO and Netflix.
The ambitious plans are a long way from the company’s Carpool Karaoke series and come after Netflix content chief Ted Sarandos told Variety he had over $7 billion to spend in 2018, $6 billion more than in 2017.
The content could be added to the existing Apple Music – episodes of Carpool and Planet of the Apps – are currently available only to subscribers – alternatively Apple could be planning a dedicated video service.
Spending the money will be the responsibility of Jamie Erlicht and Zack Van Amburg, who joined from Sony’s entertainment business earlier in the month.
Although available on the Apple TV box, Apple Music can be accessed on a variety of Mac and PC devices. Alternative providers including Netflix are already available on the Apple TV platform.