Apple is buying older movies and TV shows for its Apple TV+ streaming service, according to a new report from Bloomberg. Building a back catalog would help Apple better compete with the huge libraries of Netflix, Hulu, and Disney+.
The company’s video-programming executives have taken pitches from Hollywood studios about licensing older content for TV+ and have bought some shows and movies, according to people familiar with the matter.
This is a strategy shift for Apple, perhaps prompted by the coronavirus outbreak. So far the company has focused on its own original shows of which there are very few of. Customers who pay $4.99/month for a subscription will find themselves out of things to watch very quickly.
Sources say about ten million people signed up for Apple TV+ by February (even with the free year offer) but only half that number actively used it. A back catalog of movies and TV shows would definitely increase subscriptions and viewership.
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The company’s video-programming executives have taken pitches from Hollywood studios about licensing older content for TV+ and have bought some shows and movies, according to people familiar with the matter.
This is a strategy shift for Apple, perhaps prompted by the coronavirus outbreak. So far the company has focused on its own original shows of which there are very few of. Customers who pay $4.99/month for a subscription will find themselves out of things to watch very quickly.
Sources say about ten million people signed up for Apple TV+ by February (even with the free year offer) but only half that number actively used it. A back catalog of movies and TV shows would definitely increase subscriptions and viewership.
Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for updates.
Read More