Apple has acquired full ownership of the Severance IP for just under $70 million, bringing the psychological thriller in-house under Apple Studios. The deal ends Fifth Season's role as producer, though the studio remains as executive producer alongside creator Dan Erickson.

Financial strain on Fifth Season drove the acquisition, as ballooning production costs and delayed tax credit payments made the series unsustainable for the studio. With borrowing rates climbing from 1% to 6% and a 36-month gap between seasons, Fifth Season sought advances from Apple TV and even considered relocating production to Canada for better tax rebates.

With complete control, Apple can now expand the Severance universe through spin-offs, prequels, or foreign adaptations while balancing costs against growing viewership. The streamer has also implemented a performance-based compensation model for talent, tying bonuses to viewership metrics and Apple TV subscriptions. While most season 3 scripts are complete, production delays mean filming will likely start a couple weeks later than planned.