Apple TV+ spending more than $6 billion on new shows, plans to launch before Disney+: report

Apple Inc.

AAPL, +1.86%

has committed to spending more than $6 billion on original content for its upcoming streaming-video service, which it expects to launch within two months, the Financial Times reported Monday. That would beat the launch of rival Disney+ from Walt Disney Co.

DIS, +0.07%,

which is set to debut Nov. 12. Apple has not yet announced a price for its TV+ service, nor many other details. But the FT reported the first-year budget for TV+ has grown from $1 billion to more than $6 billion as it attempts to create a strong library of content to compete with a growing field of rivals. In comparison, streaming leader Netflix Inc.

NFLX, +2.17%

spent $13 billion on original content last year, and is expected to spend even more this year. The FT report said Apple is winning support in Hollywood with deals offering more money earlier in the production process.

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