Apple Inc intends to spend more than $500 million on marketing its streaming service named Apple TV+ in 2021. The Information reported Apple’s marketing plans on 10th September 2021, citing a person familiar with the matter.
The American multinational company, mainly known for their iPhones, also plans to significantly increase its output of new TV shows , movies as well as serials available on Apple TV+ to at least once a week in 2022, more than double its pace in 2021, according to The Information, which also cited another person familiar with the matter.
Apple, however, did not immediately respond to a Reuters request for comment. Apple’s move to allocate enormous sums for marketing Apple TV+ comes as it tries to fiercely compete with established players, such as Netflix Inc, Amazon.com Inc’s streaming service Prime Video, Walt Disney Company-owned Disney +, SonyLIV, Hulu, etc. Apple is expected to splurge more on content and marketing this year.