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Apple Inc. (AAPL) - free report >>
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Apple's (AAPL) Streaming Service Rides on Strong Content
Apple’s (AAPL - Free Report) streaming service, Apple TV+, is benefiting from a robust content portfolio, as evident from the jump in total hours consumed, which doubled in 2023. Per the latest report from Deadline cited by 9TO5 Mac, total viewership surged 42% year over year this year despite the lower number of title releases.
Apple TV+ is benefiting from a strong content portfolio that includes The Family Plan, The Morning Show, Lessons in Chemistry, Messi Meets America, Slow Horses, For All Mankind, Silo, Hijack, Bad Sisters and Ted Lasso.
Mark Wahlberg-starrer The Family Plan, which premiered on Dec 15, became the most-viewed movie ever for the service since its launch. The latest season of Jennifer Aniston – Reese Witherspoon starred The Morning Show witnessed a viewership increase of 20% over the second season. Moreover, Monarch: Legacy of Monsters and Lessons in Chemistry were other popular shows.
Solid Content Helping Apple TV+ Face Competition
Apple TV+ is keeping no stone unturned to increase its appeal amid intensifying competition from the likes of Netflix (NFLX - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) .
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
It expanded content for the holiday season with the addition of Home for Christmas, a new musical special in which Hannah Waddingham performs several classic songs. The show also features cameos from several members of the acclaimed Ted Lasso show.
However, an impressive content portfolio has not essentially turned into a market share gain for Apple TV+.
According to 9TO5Mac, which cited a JustWatch report, Amazon Prime Video was #1 in terms of market share (22%) in the United States, trailed by Netflix (21%). Max, Disney+ and Hulu had 15%, 12% and 11% market share, respectively. Apple TV+’s market share increased from 6% to 7%.
Apple shares have outperformed Disney but lagged both Amazon and Netflix year to date. While Apple has returned 50%, Disney, Amazon and Netflix have gained 5.9%, 83%, and 66.7%, respectively.
Apple currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.