Why Apple Just Spent $70M to Own Severance Completely

$70 Million Changed Everything in 48 Hours

Apple just acquired complete ownership of Severance from Fifth Season for just under $70 million. Starting with future seasons, Apple's in-house studio will produce the show entirely, with Fifth Season remaining only as an executive producer.

The timing tells a story. This happened right after Severance season 2 became Apple's most-watched series ever and earned the highest number of Emmy nominations in 2025. Not a coincidence.

When Studios Wave the White Flag

Why did Fifth Season sell? Simple: they couldn't afford their own hit show anymore. Production costs had exceeded what the studio could handle. They'd already requested advances from Apple and were considering relocating from New York to Canada for better tax rebates.

Apple saw an opportunity. Instead of just funding the problem, they decided to own the solution. It's the same playbook they used with AMC Studios for sci-fi series Silo after season one.

The pattern is clear: let external studios prove the concept, then bring successful properties in-house for complete control.

The New Rules of Streaming Wars

This acquisition reveals how streaming platforms are shifting from licensing to ownership. While Netflix built its empire on original content from day one, Apple is taking a different approach: acquire proven hits and franchise them aggressively.

Severance is expected to run for four seasons with potential spin-offs, prequels, and international versions. One IP, multiple revenue streams, total control.

For competitors, this creates a dilemma. Do you outbid Apple for proven content, or do you double down on discovering the next big thing? With Apple's $200+ billion cash pile, the bidding war might be over before it starts.

What This Means for Creators

The acquisition sends mixed signals to Hollywood. On one hand, Apple is willing to pay premium prices for quality content. On the other hand, they want complete ownership once something proves successful.

For viewers, it could mean more Severance content but potentially less creative independence. When platforms own everything, do shows become more formulaic? The jury's still out.