Apple is actively negotiating with major Hollywood studios to license additional films for Apple TV+, according to Bloomberg. This move marks a strategic shift as Apple seeks to enhance its streaming service by incorporating a broader range of content beyond its original productions.
Traditionally, Apple TV+ has focused on original content, gaining acclaim with series such as “Ted Lasso” and “The Morning Show.” However, despite these successes, the platform has struggled to compete with the extensive catalogs of rivals like Netflix and Disney+, sources familiar with the matter indicate. Launched in November 2019, Apple TV+ positioned itself as a premium service with high-quality, original content. Despite critical acclaim and numerous awards, including 72 Emmy nominations this year, the service has not amassed the same subscriber base as its competitors.
As reported by MacRumors, research from MoffettNathanson reveals that only 11% of U.S. households use Apple TV+, compared to 55% for Netflix. The limited content library on Apple TV+ is seen as a key factor contributing to its slower growth. Data from Antenna shows that streaming services with larger content libraries, like Netflix, tend to have lower cancellation rates.
To address this, Apple has begun experimenting with licensing. Earlier this year, the company licensed approximately 50 movies from Hollywood studios for its U.S. service, adding popular titles like “Mean Girls” and “Titanic” to its catalog. The positive response to this initial batch has encouraged Apple to seek additional deals. These discussions aim to secure more titles, potentially expanding the service’s offerings both domestically and internationally.
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Original Article Published at The Apple Post
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