Apple is reportedly investing further into podcasts to create content that can potentially be adapted into series for its Apple TV+ service.
According to Bloomberg, Apple’s recent production deal with the Pulitzer Prize-winning podcast company Futuro Studios includes a stipulation that the tech giant is afforded the first crack at adapting any resulting podcasts.
So far, Apple has already produced two series based on podcasts: one based on Wondery’s WeCrashed: The Rise and Fall of WeWork (starring Jared Leto and Anne Hathaway), and the other on Joe Nocera’s The Shrink Next Door (starring Will Ferrell and Paul Rudd).
It’s unclear how well WeCrashed and The Shrink Next Door performed, given that Apple reveals little data about TV+. That said, other streaming services have adapted podcasts into acclaimed series, such as Amazon (Homecoming with Julia Roberts and Janelle Monáe) and Hulu (The Dropout starring Amanda Seyfried.)
For now, it seems like Apple is taking a measured approach to its podcast plans. Bloomberg reports that Apple has spent up to $10 million USD (about $12.7 million CAD) on deals with podcast companies like Futuro, which is a far cry from the hundreds of millions spent by the likes of Spotify.
It’s worth noting that Apple could also opt to leverage Futuro podcasts as a way to complement existing shows, as it has done for The Problem with Jon Stewart and For All Mankind. However, the company did not respond to Bloomberg‘s report when the outlet reached out for comment.
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