Apple’s video streaming service Apple TV+ reportedly only acquired a market share of 3% by the fourth quarter of 2020, according to JustWatch, a streaming guidance company. The streaming service was released in November 2019.
Major players like HBO and Disney in the content creation for the big-screen and the TV have also released their services. HBO Max and Disney Plus offer much larger catalogues compared to Apple TV Plus’ handful of movies and TV shows. HBO and Disney have the benefit of putting their old content on their new streaming service whereas Apple has not produced any content prior to Apple TV+.
Extended promotional offers
Apple continues to push its video streaming service by offering it for free for the duration of one year with the purchase of new Apple devices. The company has also priced Apple TV+ at just $4.99 which is much cheaper compared to streaming services like Netflix, Disney Plus, and HBO Max.
According to JustWatch, Netflix rules the US market with a whopping 31% market share, Amazon’s Prime Video takes the second spot with a market share of 22%. Other players like Hulu, Disney Plus, and HBO Max have a market share of 14%, 13%, and 9% respectively.
Apple has extended its promotional trial of Apple TV+ till July 2021. The company had initially given users access to Apple TV+ till November 2020, however it was extended till January 2021, and it has now been extended till July 2021. Apple device users will be able to access Apple TV+ for free until July 2021.
Some TV shows produced by Apple such as The Morning Show, Ted Lasso, and Tehran have received extremely positive reviews from both critics and watchers alike. Apple is set to release many movies and TV shows in 2021 to push its streaming service.