(Reuters) – Apple Inc plans to spend more than $500 million on marketing its streaming service, Apple TV+, this year, The Information reported on Friday, citing a person familiar with the matter.
The iPhone maker also intends to significantly increase its output of new TV shows and movies to at least one a week in 2022, more than double its pace this year, according to The Information, which cited another person familiar with the matter.
Apple did not immediately respond to a Reuters request for comment.
Apple’s move to splurge on content and marketing comes as it tries to fiercely compete with established players, including Netflix Inc, Walt Disney Co’s Disney+ and Amazon.com Inc’s Prime Video.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D’Silva)
