Apple Reportedly Inks Deal To Stream 8-Episode Series See

Per reports, Apple Inc. (NASDAQ:AAPL) has inked a deal to stream See, an eight-episode series to be directed by Francis Lawrence, famous for The Hunger Games: Catching Fire and Mockingjay Parts 1 & 2.

Per Fortune, which quoted entertainment website Deadline, the series is written by Peaky Blinders creator Steven Knight, who along with Francis Lawrence, Peter Chernin, Jenno Topping and Kristen Campo will be the executive producers of the show.

Apple is Expanding Original Content Portfolio

Apple is aggressively expanding its original content portfolio to challenge the dominance of Netflix (NASDAQ:NFLX) and Amazon (NASDAQ:AMZN) Prime.

Per reports, Apple is set to invest $1 billion on original television shows and movies in 2018 through Apple Music. To oversee this business, the company hired Jamie Erlicht and Zack Van Amburg, two former executives of Sony, in June 2017, who have successful productions like Breaking Bad and The Crown to their credit.

Per Fortune, Apple also hired former president of WGN America and Tribune Studios 1 Matt Cherniss — who is overseeing development of the company’s video unit. Recently, the company also added Morgan Wandell, a former Amazon Studios executive, as well as U.K. TV executive Jay Hunt (BBC, Channel 4).

Moreover, Apple is also working with renowned Hollywood actors and producers to expand content portfolio. The company is developing a thriller drama series, Are You Sleeping, starring Oscar-winning actor Octavia Spencer.

The company is working with Reese Witherspoon and Jennifer Aniston in a yet-to-be titled original television series, which is reportedly set in the world of morning TV shows.

Apple is also working with Steven Spielberg’s TV production company to resurrect 1980s sci-fi and horror anthology TV series Amazing Stories. Apparently, the company will shell out $5 million per episode for the reboot series.

Moreover, Apple is developing an untitled space drama involving Ronald D. Moore, the screenwriter and producer, behind the 2004 reboot of the classic sci-fi series Battlestar Galactica.

Competition Intensifies

Notably, Apple’s $1-billion investment on original content is miniscule compared with Netflix’s $8-billion spending and Amazon.com’s roughly $4.5 billion.

Netflix is expected to produce 80 original movies in 2018, a substantial jump from 40 original titles in 2017. Apart from announcing a sequel to Bright, which was panned by critics, the company recently announced that it is developing a 20-episode original series untitled Sabrina Project starring Kiernan Shipka. The drama, with hour-long episodes, is an adaptation of Archie Comics' The Chilling Adventures of Sabrina.

Moreover, the video streaming market is expected to witness more competition post the entrance of The Walt Disney Company (NYSE:DIS) . Disney will start online streaming services for ESPN sports in early 2018. The recently announced acquisition of several major 21st Century Fox assets is also a significant addition to Disney’s portfolio.

Further, Hulu, a streaming platform jointly owned by Fox, Disney, Comcast (NASDAQ:CMCSA) and Time Warner presents significant competition for Apple.

Zacks Rank & Other Stock

Apple has a Zacks Rank #3 (Hold).

NVIDIA Corporation (NASDAQ:NVDA) is a stock worth considering in the broader technology sector, which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth for NVIDIA is currently pegged at 10.25%.

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