By:- Iswar Dey
Oppositeto the reports of Apple launching a video subscription app in 2018 to counter Netfilx, Citi analysts, Jim Suva and Asiya Merchant, said that there is a 40% possibility in Apple acquiring the entertainment giant Netflix owing to the US President Donald Trump’s corporate tax cut.
Jim and Asiya also added that the tech giant has cash of $250bn growing at $50bn a year. They told, “It has so far been away from repatriating cash to the US to avoid high taxation. As such, tax reform may allow Apple to put this cash to use. With over 90% of its cash sitting overseas, a one time 10% repatriation tax would give Apple $220 for M&As or buybacks.”
The competition for producing the best TV show and highly appealing movie scripts have already begun among the tech giants, with Google-owned YouTube already producing original TV series and Amazon winning Oscars for ‘Manchester by the Sea’ show.
Reports said iTunes gained popularity initially, but with the advent of TV shows from other tech giants like Netflix, Amazon or Hulu, audience has increasingly shifted away from iTunes. Thus in September, 2017 reports poured in that Apple might lease the Culver Studios in California as it plans to pour $1 billion into TV series and movie productions.
Apple has already booked top notch Hollywood talent Sony duo Jamie Erlicht and Zack Van Amburg to its Hollywood push and is reportedly developing a new TV show that will see stars like Jennifer Aniston and Reese Witherspoon.