Apple has reportedly signed a first-look deal with Futuro Studios as it invests in more original podcast content.
As reported by Bloomberg, Apple is "stepping up its spending on original podcasts" and has signed a deal with Futuro, the Pulitzer Prize-winning studio behind Suave.
According to Bloomberg Apple is "looking to add original content to its Podcasts app that it hopes could eventually turn into shows on its Apple TV+ service."
Branching out
As the report notes, this deal will not only net Apple some great podcasts but could also see some shows turned in TV shows and movies on Apple TV+ in the future. The deal "will fund development and production of podcasts," in return Apple will get the first look at any possible podcast that could be made into a film or show.
According to Bloomberg Apple has discussed "similar arrangements" with other studios, spending about $10 million on the push so far.
Given the TV aspect, the report says that investments are being led by Apple's TV studio rather than its podcast division. This is in part to protect Apple's image as a "neutral platform" that has so far avoided funding individual shows or networks.
The approach is markedly different from that of Spotify and Amazon, both having spent more than $1 billion in the field.
As the report notes Apple has used many of its acquired podcasts in conjunction with Apple TV+, often as marketing material to promote new shows. Only this week the company announced a new Missed Fortune Podcast series, again from within Apple TV+. This new show is hosted by Peter Frick-Wright and based on the true story "of one man’s years-long quest to find a million dollar treasure hidden in 2010 by eccentric art dealer Forrest Fenn."
Apple continues to invest heavily in its slate of original programming for Apple TV+, and clearly sees podcasts as a big part of that journey.
