FIRST AIRED: June 15, 2018

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Transcript

00:00:00
>> As the original content wars heat up, Apple just scored a major win. The tech giant revealing Friday it struck a multi-year deal with Oprah Winfrey to produce original programming. The move comes as the iPhone maker looks to compete in the streaming industry hoping to go head-to-head with heavyweights Netflix, Amazon, and HBO.
00:00:21
Reuters Lisa Richwine is on the story.>> Well, it really seems to be bit of an arms race. We had headlines a few weeks ago with Netflix signing the Obamas to a deal. They've also got a few big showrunners, Shonda Rhimes and Ryan Murphy. We had Nicole Kidman yesterday signing a deal with Amazon so it's really a race to grab big headlines and big names.
00:00:44
And then Apple grabbing Oprah is one of the biggest names that was left that was really out there.>> Other shows it snapped up so far include big Hollywood names like Reese Witherspoon and Jennifer Aniston.>> Apple says they initially plan to spend a billion dollars. That's a fraction of the $8 billion that Netflix is spending.
00:01:04
So Apple's strategy seems to be that they're gonna try it out. They're gonna get some big names, try a few shows, and see how it goes. And then decide if they wanna spend more to really level the playing field.>> Oprah will keep her position as Chief Executive of her cable channel OWN and under her current contract which runs through 2025, she can appear on camera on other platforms on a limited basis.