By: Nick Gambino
Apple TV+ (Plus) has relied on their original content like The Morning Show, Amazing Stories and Mythic Quest to woo subscribers to the streaming platform. Now, a new report from Bloomberg suggests that the company is looking to expand with licensed content.
Launched in November of 2019, Apple TV+ has struggled to gain the same footing as competitors like Netflix, Hulu and even Disney+, which launched in the same month. The big difference is in the size of the catalog. Those streamers all provide access to a plethora of licensed shows and movies in addition to original programming.
For comparison, Disney+ notched 10 million subscribers in its first day after launch. It took Apple TV+ four months to reach that number. It’s clear that Disney roped in those numbers because it has an extensive and impressive back catalog that is worth the price of subscription by itself.
Padding out your library with older movies and shows has the potential of bringing more people to the service and thus your original programs. Come for the familiar, stay for the original. It doesn’t look like they’ve sealed the deal on any major licensing yet, but according to sources who spoke with Bloomberg, they are hearing pitches. Though, the Cupertino-based company has scooped up the rights to some smaller titles, we’re just not sure which ones as of yet.
While Apple TV+ currently lacks titles, a subscription only costs $4.99 a month which offsets the problem. It’s almost as if they priced it based on the understanding that they didn’t have enough to offer. They also tack on a free year of Apple TV+ with the purchase of any Apple device.
In a world overrun by streaming services, with more on the way (HBO Max is particularly exciting), it’s hard to make a dent in the market. Apple TV+ banked on their reputation and collaboration with a few Hollywood notables like Steven Spielberg and JJ Abrams, but it has yet to pay off at the level they’d hoped.
By pivoting their strategy and acquiring older third-party movies and shows, they might be able to gain the footing they desperately need.