Apple acquires Severance from production company 'Fifth Season' as Season 3 begins

Apple has acquired Severance from production company Fifth Season, moving the hit series fully under Apple Studios

Apple has acquired the IP and full rights to Severance from Fifth Season, bringing the Emmy-winning drama fully under Apple Studios as it expands its in-house production strategy.

The deal, finalized late last year and reportedly valued at just under $70 million, shifts Severance from being produced by an outside studio to Apple’s internal production arm. Fifth Season will remain involved as an executive producer. The move mirrors Apple’s previous transition on Silo, another large-scale series that ultimately shifted into Apple Studios’ portfolio.

Created by Dan Erickson and executive produced and directed by Ben Stiller, Severance has become one of Apple TV+’s flagship dramas. Its second season, which reportedly cost as much as $20 million per episode, faced production challenges including COVID-related delays and the Hollywood strikes. Despite those hurdles, Season 2 became the platform’s most-watched series at the time and led the 2025 Emmys with 27 nominations, winning eight awards.

The series has already been renewed for a third season, with Apple targeting a summer production start. Scripts are still being finalized, and sources indicate the company aims to head into filming with all episodes locked in order to avoid the costly rewrites and reshoots that complicated the previous season.

Apple executives are said to be planning for at least a four-season run. While a fifth season has not been formally mapped out, there is openness from the creative team to expanding the Severance universe through potential spinoffs, prequels or international adaptations. The long gaps between seasons have also sparked conversations about ways to keep the fanbase engaged between installments.

Bringing Severance in-house provides Apple with greater financial flexibility, including more control over budgets, tax credits and long-term franchise development. Since launching in 2019, Apple TV+ initially relied heavily on outside studios for originals but has steadily built up Apple Studios to produce a larger share of its slate internally.

Severance now joins a growing roster of Apple Studios-produced titles as the streamer deepens its commitment to owning key intellectual property and strengthening the long-term value of its most defining series.