Apple has acquired the intellectual property and all rights to the series Severance from Fifth Season for approximately $70 million in December. This significant move will see Apple Studios produce future seasons in-house.
The acquisition positions Severance among Apple’s marquee titles on Apple TV+, alongside notable shows such as Owen Wilson’s Stick and Kristen Wiig’s Palm Royale. This is not Apple’s first major acquisition, as it previously acquired the sci-fi dystopian series Silo after its first season, further expanding its content portfolio.
According to reports, production costs for Severance had exceeded what Fifth Season could afford, leading the studio to request advances from Apple and consider relocating production from New York to Canada to access larger tax rebates. Apple had been assisting Fifth Season with budgeting and securing advertisers, indicating a deepening involvement in the series.
The second season of Severance became Apple TV+’s most-watched series, highlighting its popularity and the potential for future growth. With Apple now at the helm, production is expected to remain in New York without the budget constraints that previously posed challenges. The series is anticipated to run for four seasons, and the acquisition opens up possibilities for spin-offs from showrunner Dan Erickson and director Ben Stiller.
Fifth Season will remain as an executive producer, ensuring continuity in the production of the series. Apple’s takeover is seen as a strategic move to bolster its content offerings on Apple TV+, reinforcing its commitment to producing high-quality, engaging content.
