- John Baer/Universal
Apple has reportedly signed a deal with director M. Night Shyamalan that will see him create an original television show for Apple’s online streaming service, Engadget reports.
It’s unclear what Shyamalan’s upcoming series will be about, but a few details have emerged about the project: It’ll be 10 episodes long, will be written by British writer Tony Basgallop, and will be a psychological thriller.
Apple is spending money on new video content
Apple had $163 billion (£116 billion) in cash to spend at the end of December, and its CFO Luca Maestri told The Financial Times that “our target over time is to take that $163 billion down to approximately zero.”
One way for Apple to reduce its cash pile is to invest in original content. It already has shows on its Beats 1 internet radio station from stars including Elton John and Drake, but it could ramp up its spending to include more exclusive content.
Right now, Apple includes streaming television in its Apple Music subscription. It has shows including “Carpool Karaoke” and “Planet of the Apps,” but plans to release more. In fact, the company reportedly has a $1 billion (£738 million) budget for shows and movies that it will bring to its streaming service.
And with that budget comes new, high-profile hires from the entertainment world. It brought in Jamie Erlicht and Zack Van Amburg from Sony and has tasked them with bringing in original content.