Apple has acquired “Severance” from Fifth Season as it looks to grow its in-house production studio and prepares for the show’s third season.
The deal will see Fifth Season, which produced the first two seasons of the Emmy-winning drama series, stay on as an executive producer. The transaction is similar to the tech giant’s acquisition of “Silo” from AMC Studios following its first season.
Deadline, which first reported the deal, noted that Fifth Season lost money on both seasons of “Severance” and that spending on Season 2 escalated amid months of COVID-19 protocols, a months-long shutdown due to the 2023 Hollywood strikes, writers’ room friction and script changes that resulted in scrapped pre-built locations and reshoots.
At the same time, tax credit payments for the show reportedly were delayed and borrowing became more expensive, with rates climbing from 1% to between 5.5% and 6%. That put financial strain on Fifth Season, who asked Apple TV for advances and payment assistance and even mulled moving the show from New York to Canada.
Apple, who felt it was in a better position to bear the financial burden and concluded it would be beneficial to bring Ben Stiller and his Red Hour Films banner in-house, reportedly approached Fifth Season about the buyout.
“Severance” has been renewed for Season 3, though a fourth season is reportedly expected by Apple. In addition to “Severance,” Fifth Studio has produced Apple series including “Chief of War,” “See,” “Truth Be Told,” “Roar,” “Lady in the Lake” and the delayed drama “The Savant.”
The move comes on the heels of Apple Studios’ “F1” becoming the highest-grossing sports feature of all time – a collaboration with Jerry Bruckheimer and Joseph Kosinski that has led the pair to entrust the studio with their next feature, an untitled UAP project. Other films produced by Apple Studios include “The Lost Bus” and “Napoleon.”Siân Heder’s next feature “Being Heumann,” “Outcome,” an untitled Stephen Chbosky project starring Mark Wahlberg and “Greyhound 2.”
Meanwhile, Apple Studios’ TV slate includes “Your Friends & Neighbors” Season 2, “Imperfect Women,” “Lucky,” “Sugar,” “Widow’s Bay,” “Maximum Pleasure Guaranteed,” “The Off Weeks” “Palm Royale,” “Dope Thief,” “Disclaimer,” “Lessons in Chemistry,” “Masters of the Air,” “The Reluctant Traveler With Eugene Levy,” “Black Bird,” “WeCrashed” and more.
The first two seasons of “Severance” are available to stream on Apple TV now.
