Netflix might have the most to lose by Apple's upcoming entry into the world of internet TV. However, it doesn't look like the company is worried about the iPhone maker's move, at least not yet, according to CNET.

Speaking at the Vanity Fair New Establishment Summit in Los Angeles, Netflix's chief content officer Ted Sarandos said he doesn't know what Apple is doing with the $1 billion it has budgeted to produce original content. Further, he doesn’t “think people making shows for them have any idea” either.

Whether he’s worried, Sarandos says Netflix doesn’t “put much focus on any competitor.”

Those words might be accurate, of course. It's just as likely, Netflix isn't worried, because, like everyone else outside of Apple, it has no clue what's going on behind the scenes.

To date, occasional stories have popped up over the past year mentioning which TV projects Apple has approved and which stars are connected to them. We know, for example, that Apple is putting together a growing lineup of comedies, dramas, documentaries, and animated titles. We also know some of the biggest names in Hollywood are on board, including Academy Award winners like Reese Witherspoon and Octavia Spencer, plus Jennifer Aniston, Aaron Paul, and many more.

What no one seems to know is when the shows will begin airing and where. Rumors continue to suggest Apple plans on announcing a video streaming service that will somehow be tied to Apple Music. The specifics, however, have yet to surface, and might not until early next year. Most think Apple will begin airing programs in mid-2019.

For its part, Netflix continues to spend upwards of $8 billion each year on new content. Perhaps that amount of cash is the real reason Netflix doesn't seem worried about Apple. What do you think?