Apple announced at the end of last year that it was planning to use part of its billion-dollar original programming budget to plan its first television project for streaming. This news came as a breath of fresh air to many industry professionals, who look forward to some ‘new blood’ in the streaming world.

The project will involve a revival of an old 1980s classic Steven Spielberg series, and will be made in conjunction with NBCUniversal, who are delighted to be a part of the investment and revival.

The series will be called Amazing Stories and will be Apple’s first determined effort to join the streaming business marketplace.

The project involves a number of well-known participants, including Amblin Television, and ex-Sony Pictures employees, Zack Van Amburg and James Erlicht, who have reportedly been on the lookout for projects to work on. Entertainment president for NBC, Jennifer Salke said that her company was ‘honoured to be a part of the investment by Apple.’

The producer of Amazing Stories will be Bryan Fuller of Heroes, American Gods and Hannibal fame, but it has not yet been confirmed whether Mr Spielberg himself will be involved in the project.

Apple has budgeted one episode at $5 million, and it is hoped that the series will perform better than it did originally during its run from 1985 to 1987, particularly today, when science fiction is a TV staple. Although an award-winner, it was not well-received and encountered poor ratings.

Details regarding distribution have not yet been confirmed, although NBC will not be in consideration.