The tech giant is a latecomer to a market being transformed by Netflix and Amazon. But if it commits enough money, it could yet be a serious player

Apple has Amazon, Netflix and the Hollywood studios in its sights. That is clear after a frenetic summer hiring big TV chiefs, scouting out space in a famous Hollywood studio and considering spending up to $5bn (£3.8bn) on the rights to distribute James Bond films.

Apple has largely sat on the sidelines in the TV and film arms race being led by Netflix and Amazon. Until recently, its focus has been on providing the devices to get access to such content, led by the iPhone. But Apple has been slowly increasing its portfolio in recent years. First came music with the $3bn acquisition of Dr Dre’s Beats, followed by its own music service in 2015. Now the Silicon valley giant has set its sights on playing catch-up in TV and film.

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