Apple will be producing new content about Peanuts
Apple (AAPL) has been taking its push into the content space seriously. The iPhone maker has been spending a lot of money roping in stalwarts of the industry, including Oprah, Steven Spielberg, and Jennifer Aniston.
Analysts expect Apple to launch its own programming service sometime next year, projecting that the tech giant spent $1 billion this year.
Recently, Apple penned a deal with Canadian broadcaster DHX Media, which will work on series, specials, and short films based on the much-loved characters from Peanuts, such as Snoopy.
Creator Charles Schulz wrote and illustrated Peanuts for 50 years starting in 1950. Peanuts moved to TV in the ’60s and came to the big screen a few years ago in The Peanuts Movie. DHX acquired a controlling stake in Peanuts in 2017.
Apple faces stiff competition but has scope
Netflix (NFLX) is still by far the leader in online streaming, and Apple will face stiff competition from other players as well, with more and more big studios such as the Walt Disney Company (DIS) throwing their hats into the ring to launch streaming services. With that said, the appetite for quality streaming content is still quite high.
With Apple’s revenue from its core iPhone business set to plateau, the company is looking for new ways in which to keep growing. Apple stock has plunged nearly 30% since it peaked in the first week of October.