Wall Street analyst-turned-venture capitalist Gene Munster has predicted that Apple will be represented at an Oscar ceremony within the next five years in the same way Amazon was this year with “Manchester by the Sea”.
Munster estimates Apple will increase spending on original content to be on par with what Amazon and Netflix have already committed. As part of a research note issued by his company, Loup Ventures, Munster writes:
“We think Apple will win an Oscar in the next five years. That’s how long it will take for Apple to scale its original content spend from less than $200 million today to $5-7 billion.”
Munster explains that the rationale for Apple to get into the film business is the need for exclusive original content to drive user engagement within its broader iTunes and Apple Music ecosystem.
Apple is already dipping a toe in the original content business with two reality shows, but Apple content czar Eddy Cue has indicated that there aren’t yet any more ambitious plans for the company’s content business.
Indeed Munster is infamous for his generosity with Apple expectations, previously talking up a line of Apple TV sets and Apple augmented reality headsets, neither of which have come to pass.
Apple does remain one of the few major media companies who certainly has the money and infrastructure in place to take on giants like Netflix, Amazon and Hulu if it so wishes.