Almost a year ago, we published an article (*14*) detailing the upward trajectory of Apple TV Plus and its threat to Netflix, Prime Video, and Disney Plus.
Apple CEO Tim Cook had just unveiled a video of the streamer's upcoming releases as an introduction to the company's iPhone 13 launch event. During the short presentation, Cook also regaled the audience with an account of the quality of Apple TV Plus programming, calling it "the home of the world's best storytellers" and praising his recent awards.
By any measure, critical, cultural, and financial (more on all three later), this speech and showreel successfully set the broadcaster on a path to prosperity for the next twelve months. But Apple needs to pay much more attention to Apple TV Plus at this year's iPhone 14 launch event and beyond if it really hopes to capitalize on the precarious state of the streaming industry in 2022. Let's explain.
Apple TV Plus has quickly established itself as a high-quality entertainment service (*14*) offering big-budget content at low prices, it's true. His movies and TV shows, for the most part, have been well received by critics and audiences (CODA made sure (*14*) the broadcaster became the first to win an Oscar for Best Picture), and its market share has increased by 29% in the last 18 months. . , according to research from streaming analyst JustWatch (opens in a new tab).
So far so good, right? Well, yes, but the statuettes and the nice stats don't tell the whole story. This 29% increase in market share sounds very impressive on paper, but it is actually a jump from 5% to just 6,2%. Netflix and Prime Video, meanwhile, currently hold just over 27% and 24% of the streaming market, respectively, and while (*14*) Apple's streamer has eaten up both platforms' shares since January 2021 , Apple TV Plus is still far from reaching it. with the big ones.
Apple doesn't do anything inherently wrong; in fact, it does most things well. Where Netflix and Prime Video have lost subscribers in recent years, the streamer has managed, like Disney Plus and HBO Max, to significantly increase its customer base and cultural standing in a very short time. But Apple TV Plus needs even more care and attention if Tim Cook and company really hope to threaten the order of the industry.
Apple's streamer still feels like an afterthought; a fun experience for the richest brand on the planet. The Cupertino giant correctly prioritizes selling its iPhones, MacBooks and AirPods over expanding the Apple TV Plus content library, but a handful of Emmy-winning series and movies made by Martin Scorsese (search Killers of the Flower Moon next year) is not. and it won't be, enough to make (*14*) Netflix and Disney execs tremble in their boots.
The problem, it seems, is (*14*) Apple, a company currently valued at more than €2 billion, has little interest in creating the world's largest streamer. That's not strictly a problem in and of itself: Apple doesn't (*14*) want to be at the top of the streaming pile, but that sentiment makes (*14*) Apple TV Plus a tough sell for long-term customers. term.
Yes, the likes of Ted Lasso, Foundation, Severance, Slow Horses, CODA, and Prehistoric Planet are great, but how many other must-see Apple movies and TV shows can you name? From them? maybe three? This limited library is why the service only reasonably costs $4.99 / £4.99 / AU$7.99 per month, but similarly, Apple TV Plus still isn't a suitable alternative to increasingly expensive streamers like Netflix and Apple. DisneyPlus.
So, at the company's upcoming iPhone 14 unveiling event, we're expecting something else (*14*) a dazzling Tim Cook unveiling showreel. Perhaps news of a content license agreement (*14*) is not from Apple? Or maybe a list of projects in development (*14*) makes (*14*) customers feel like (*14*) they have to (*14*) subscribe indefinitely? Even spending more than five seemingly mandatory minutes on the subject would go a long way toward selling Apple TV Plus to the millions of viewers around the world. You're the best in the business selling stuff, Apple. Why not use that experience to compel audiences to sit up and take notice of your streaming platform?
Otherwise, the streamer's market share may well continue to grow, but another jump of 29% would only convert his share from 6,2% to 7,9%. And, with Netflix and Disney Plus moving to ad-supported subscription levels in the coming months, Apple's window of opportunity to really make its mark in the streaming world is closing fast.
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