According to Bloomberg, Apple has increased its commitment in original podcast content by reaching a deal with Pulitzer Prize-winning production outfit Futuro Studios.
According to the agreement with Futuro Studios, the company behind the criminal-justice drama "Suave," Apple will pay for the creation and distribution of podcasts and will subsequently have the first choice to adapt them into movies or TV shows for its Apple TV+ service.
Over the past few years, Apple has increased the amount of podcasts it produces. In addition to creating spinoffs of some of its original television and film programming, like the "For All Mankind" podcast, it has also been looking to buy original podcast programmes that may tie into upcoming TV+ series.
According to Bloomberg, Apple has discussed similar agreements with other podcast production companies and has already invested up to $10 million in the campaign. A few well-known podcasts, such the true crime series "Hooked" and "The Line," have previously been funded by Apple, and several of them are connected in some manner to its television programmes.
According to reports, Apple uses the podcast investment technique as a comparatively risk-free way to assess interest in the content to decide whether it might serve as the basis for a video series. Using this method, Apple can create original video programming without having to pay potentially much more money to buy the rights to an established podcast.
Apple's understated intentions stand in contrast to Spotify's expensive approach, which involves acquiring well-known podcasts and making them available only through its streaming service. Over the past few years, Spotify has made strides in the podcasting industry by expanding its original podcast offerings, making significant acquisitions, and securing important deals like acquiring the rights to the well-known Joe Rogan Experience podcast.
