Apple Inc. AAPL recently announced a multi-year contract with actress Julia Louis-Dreyfus for producing and featuring in Apple TV+’s new streaming projects. The financial terms of the agreement were not disclosed.
Julia Louis-Dreyfus is best known for her roles in Seinfeld and recently, HBO’s Veep. Having won the Emmy Awards eight times for acting and thrice as a producer, her agreement with Apple seems to have added another feather to the company’s star cast for TV+.
The collaboration with Louis-Dreyfus is expected to provide an impetus to Apple’s original content expansion strategy to penetrate the increasingly crowded streaming space.
Apple Inc. Price and Consensus
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Tie-Ups With Hollywood Biggies Bode Well
Notably, Apple has been aggressively bringing big-name talent into its TV+ family. Earlier this month, it finalized a production deal with former HBO executive Richard Plepler, who helped successfully create shows like The Sopranos, Game of Thrones, True Blood, Boardwalk Empire and News Pioneer ("The Newsroom"). During his tenure, HBO won more than 150 Emmy Awards.
Moreover, in October last year, Apple signed a multi-year deal with Oscar-winning director, Alfonso Cuarón, for AppleTV+. Per the deal, Cuarón is developing television projects exclusively for AppleTV+.
Again, in the preceding month, the company announced the streaming of Oprah’s Book Club, an exclusive series, on Apple TV+. Notably, the series is part of the multi-year partnership between Apple and Oprah, announced in 2018. Additionally, Oprah is developing two documentaries, exclusively for Apple TV+ viewers. Toxic Labor is about sexual harassment in the workplace, and another series in partnership with Prince Harry will focus on mental health and fitness.
Other creators signed by Apple so far include Kerry Ahrin, Justin Lin and Jason Katims. The company is also reportedly working with Hollywood names like Steven Spielberg and Jennifer Aniston.
Apple’s Strong Content Makes It a Potent Challenger
Apple’s robust original content portfolio that includes shows of different genres, like See, The Morning Show, Dickinson and For All Mankind, is a key catalyst.
The company recently premiered Servant, its latest original series, which is a new thriller from acclaimed director M. Night Shyamalan at the BAM Howard Gilman Opera House in Brooklyn, NY.
This followed the premiere of Truth Be Told, a limited series from Aaron Paul and Octavia Spencer about America's obsession with true crime, launched in December last year.
However, Netflix NFLX recently signed a multi-year deal with Game of Thrones creators David Benioff and D.B. Weiss. Apart from this, JJ Abrams too recently picked AT&T’s T WarnerMedia, turning down a significant offer from Apple.
Nonetheless, although its content portfolio is not as expansive as Netflix or Disney’s DIS Disney+ (due to the inclusion of 21st Century Fox content), Apple’s focus on partnering with Oscar-winning content makers as well as popular Hollywood stars is expected to be a game changer.
Apple currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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