Apple has reportedly signed a deal with podcast maker Futuro Studios to help it fund the development and production of future podcasts, Bloomberg reports. In return for the Futuro deal, Apple gets the rights to turn any resulting podcasts into movies or TV shows. It has produced TV shows based on the podcast WeCrashed and The Shrink Next Door.
At a time when streaming services are craving original content more than ever, long-form podcasts have become a rich source of inspiration for TV shows. Hulu’s The Dropout is based on the ABC News podcast of the same name, and the streaming service is also reportedly adapting the podcast Wind of Change into the TV show.
Apple has publicly announced podcast collaborations with a number of studios in recent months, including At Will Media (for Wild Things: Siegfried & Roy ), Campside Media (Run, Bambi, Run), Jigsaw Productions (The Line) and Pineapple Street Studios ((Project Unabom) reportedly cost up to $10 million in a series of deals.
Apple’s podcast deals have been led by its Apple TV division, while its actual podcast division has reportedly avoided investing in specific titles to appear as “platform neutral” “. Apple and Futuro declined to comment to Bloomberg on their report, and did not immediately respond to The Verge’s request for comment.
Despite rolling out support for podcast subscriptions last year, Apple’s existing audio release suggests that its priority isn’t to make money directly on shows. Instead, it appears to be using They come to benefit other parts of their business, or as a source for future TV and film adaptations, or in Jon Stewart’s questions and for all humanity , use them as promotional tie-ins.
In contrast, competitor Spotify has a slew of The Joe Rogan Experience The podcast investment involved making the show exclusive on its platform in an attempt to attract new listeners to Spotify. Amazon has also signed podcast deals including My Favourite Murder and How I Built This, which involves exclusive windows.