Apple has acquired the intellectual property and all rights to the Apple TV series Severance from producer Fifth Season in a deal worth just under $70 million, finalized late last year. Apple Studios will now produce the show, with Fifth Season serving as an executive producer. The move comes ahead of production on Season 3, with a fourth season already planned.
The acquisition positions Severance as a key title in Apple Studios' portfolio, alongside series like Silo, which underwent a similar transition from AMC Studios after its first season. Created and showrun by Dan Erickson, with Ben Stiller as executive producer and director, Severance is known for its intricate storytelling, large sets, and extensive visual effects, contributing to production complexities.
Season 2, which consisted of 10 episodes costing up to $20 million each, faced significant challenges. Production began in October 2022 and wrapped in April 2024, delayed by Covid protocols phased out in May 2023, an eight-and-a-half-month Hollywood strikes shutdown, writers room issues, script revisions leading to scrapped sets and reshoots. Filming occurs in New York to access tax credits, though payment delays have occurred. Rising borrowing rates from 1% to 5.5%-6% increased financial pressures on Fifth Season, prompting requests for advances and consideration of relocating to Canada for faster rebates.
Apple TV handled additional responsibilities, such as securing advertising partnerships like a State Farm commercial for Season 2. The streamer, led by Heads of Worldwide Video Zack Van Amburg and Jamie Erlicht, views ownership as allowing better financial management, including waiting for New York tax rebates without relocation pressure. Stiller's Red Hour Films, under an existing Apple deal, will facilitate coordination.
Severance has been renewed for Season 3, with a fourth season confirmed as the target, aligning with Stiller and Erickson's vision of 3-4 seasons. Season 3 filming is tentatively set for summer, though scripts are ongoing—six are complete, episode 7 outlined—with plans to finalize all before shooting to avoid Season 2's issues. Kogonada will serve as the new producing director. Season 2 doubled Season 1's viewership, earned 27 Emmy nominations in 2025, and won eight awards, making it Apple's most-watched series at the time. Apple CEO Tim Cook promoted Season 2 personally.
Fifth Season, a major Apple supplier, reportedly incurred losses on the first two seasons but expects profits from future producing fees. The deal supports long-term franchise potential, including possible prequels or spinoffs.
