Apple is trying to lease a large manufacturing campus in film capital Los Angeles for future Apple TV+ productions, the Wall Road Journal reported Tuesday.
The Cupertino firm is taking a look at a number of attainable areas for the hub, which may exceed half one million sq. toes. Apple already leases a number of soundstage in LA and elsewhere.
The WSJ studies:
“In current months, buyers have come to consider that even a Goliath like Apple might want to double down on leisure if it desires to compete for subscribers, as consolidations just like the WarnerMedia- Discovery Inc. tie-up flip the market right into a top-heavy brawl. Apple executives seem to agree, saying prior to now 12 months a brand new Leonardo DiCaprio film, record-setting acquisitions and a sequence of different initiatives that sign a brand new chapter for its Hollywood efforts.
However its want for extra soundstages speaks to one of many extra surprisingly aggressive facets of streaming: Securing the house wanted to provide exhibits and films.”
The report continues that a lot of LA’s accessible manufacturing services are presently booked up. That implies that the likes of Apple have to have a look at organising their very own services relatively than renting.
Mike Mosallam, Manufacturing Actual Property Lead at Apple, is alleged to be main the soundstage technique. He joined Apple in January, having beforehand achieved an identical job at Netflix.
Apple TV+: The story up to now
Apple has but to launch any official numbers for Apple TV+ so far as subscribers go. Nonetheless, it lags considerably behind the likes of Netflix and Disney+. On the finish of final 12 months, it had a reported 40 million subs — though many of those have been on Apple’s free trial. Netflix, in the meantime, had greater than 200 million on the top of the pandemic. This quantity has since declined. Disney+, in the meantime, has handed 100 million.
Apple TV+ is sort of actually a cash loser for Apple proper now. However Apple’s deep pockets and hit exhibits like Ted Lasso nonetheless make it a pressure to be reckoned with.
Supply: Wall Road Journal