The Wall Street Journal reported Tuesday that Apple Inc. (NASDAQ: AAPL) is in advanced talks to bring in ex-HBO Chairman and CEO Richard Plepler to create exclusive content for its new streaming video platform.
Plepler is considered to be among the most talented entertainment executive with multiple hits under his tenure at HBO, according to The Wall Street Journal. The executive is credited with developing both "Game of Thrones" and "Veep" before moving on from the network in early 2019 and creating a new company called RLP & Co.
According to a WSJ source, Apple wants Plepler and RLP to create new original content for Apple TV+.
Why It's Important
Apple's desire to work with a Hollywood heavyweight is consistent with the ongoing battle for new entrants in the streaming video space to attract the best talent available, WSJ said. Specifically, Apple is already working with Steven Spielberg, J.J. Abrams and Oprah Winfrey.
Apple showed in its September-ending fiscal year total iPhone sales were lower by 14% and total revenue was down 2% to $260.17 billion. Apple can offset some of the lost revenue through original content, which can include a theatrical distribution strategy, according to WSJ.
Talks between Apple and Plepler remain ongoing and could successfully close in the coming weeks -- or not materialize at all.