A year ago, we wrote on Apple TV Plus’s rise and danger to Netflix, Prime Video, and Disney Plus.
Tim Cook introduced Apple’s iPhone 13 launch event with a showreel of forthcoming Netflix debuts. Cook also praised Apple TV Plus’ programming, calling it “home to the world’s finest storytellers”
By all accounts – critical, cultural, and financial (more on all three later), that speech and showreel set the streamer up for a successful year. Apple must give Apple TV Plus more attention during this year’s iPhone 14 launch event and beyond if it intends to profit on the streaming business in 2022. Explanation:
Apple TV Plus has swiftly established itself as a high-quality, low-cost entertainment provider. Its movies and TV episodes have been warmly regarded by reviewers and audiences (CODA helped the streamer win an Oscar), and its market share has climbed by 29% in the last 18 months, according to streaming analyst JustWatch.
Okay, right? Yes, but awards and statistics don’t tell the complete story. That 29% market share rise sounds big, yet it’s only from 5% to 6.2%. TV Plus has eaten into Netflix and Prime Video’s market shares since January 2021, but it’s still far from competing with the big guys.
Apple TV Plus Market Share
Apple isn’t doing anything wrong; it’s mostly doing well. Where Netflix and Prime Video have lost customers, the streamer has grown its client base and cultural prominence quickly. Apple TV Plus requires more care if Tim Cook and team wish to disrupt the industry.
Apple’s streamer feels like an afterthought; a pleasant experiment for the richest brand. The Cupertino giant prioritises the sale of its iPhones, MacBooks, and AirPods over Apple TV Plus’ content library, but a handful of Emmy Award-winning series and Martin Scorsese-directed movies (look out for Killers of the Flower Moon next year) won’t make Netflix and Disney executives quake in their boots.
Apple, a $2 trillion firm, seems uninterested in producing the world’s largest streamer. Apple isn’t required to be at the top of the streaming pile, but this mentality makes Apple TV Plus challenging to sell long-term.
Ted Lasso, Foundation, Severance, Slow Horses, CODA, and Prehistoric Planet are fantastic, but what are some others? Two? Two? This limited repertoire is why the programme costs $4.99 / £4.99 / $AU7.99 per month, but Apple TV Plus is still no substitute for Netflix and Disney Plus.
At the iPhone 14 unveiling event, we want more than Tim Cook’s showreel. A non-Apple content licencing deal? Or a slate of in-development projects that make customers feel obligated to subscribe? Even spending more than the minimum five minutes on the topic would help market Apple TV Plus to millions worldwide. Why not leverage Apple’s selling prowess to promote its streaming service?
If not, the streamer’s market share may continue to grow, although a 29% increase would only bring it to 7.9%. Apple’s window of opportunity to make its imprint in streaming is shrinking fast, with Netflix and Disney Plus adopting ad-supported rates.