With cord cutting snowballing and gaining traction, it seems like everyone wants a piece of the action. Cable providers are banding together to protect their entertainment empires as they slowly hemorrhage money in an effort to stay afloat. Others are delving into the world of cord cutting themselves to remain relevant.
Rumors have been going around for years pointing to Apple as the next big player in the cord cutting industry, and those rumors might finally be coming to fruition. With Apple being the first company to reach the trillion-dollar mark in net worth, it makes perfect sense for them to start branching out into related markets.
Apple CEO Tim Cook had this to say regarding Apple’s potential foray into cord cutting:
“As you know, we hired two highly respected television executives last year and they have been here now for several months. They have been working on a project that we’re not really ready to share all the details of it yet, but I couldn’t be more excited about what’s going on there and we’ve got great talent in the area that we’ve sourced from different places and feel really good about what we will eventually offer.”
According to a report by BGR, those two executives are most likely Jay Hunt and Carol Trussell, both top quality television professionals with the expertise to get a new entertainment related venture off the ground. Last June, Apple also acquired the services of Zack Van Amburg and Jamie Erlicht—two Sony experts who’ll likely be overseeing the entire project.
With a crack team of executives and the creativity usually assigned to Apple, cord cutters are starting to get excited about what may be coming next. Many expect a mixed offering of original content, licensed materials, and other apps that will be relevant to the project.
“In terms of the sort of the key catalysts and the changes, the cord cutting in our view is only going to accelerate and probably accelerate at a much faster rate than is widely thought. We’re seeing the things that we have on the periphery of this like Apple TV, units and revenue grew by very strong double digits, very, very strong double digits in Q3,” Cook continued.
He also described the success of the Apple TV boxes and pointed to those as a possible springboard for Apple’s own streaming service. It would be a fairly small leap for the organization to move from strictly tech to a more involved position in cord cutting content.
This is a company that has the financial and brand clout to take a new streaming service to the top of the current heap. Apple will have to be prepared to throw billions at content creation and the launch, but if any company can do it—it might just be them.
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