July 17, 2023

Apple sets standard to produce binge-worthy content

Apple has planted its own standard in the streaming wars with Apple TV+, its in-house streaming service that focuses almost entirely on original programming rather than an extensive library of existing TV shows or movies.

Apple has proven that it knows how to produce binge-worthy content to rival fellow streaming services such as Netflix and HBO Max, as well as new challengers like Paramount+ and Disney+. Like Amazon Prime, Netflix, and Hulu before it, Apple TV+ is a premium video streaming service featuring original content that was first introduced in November 2019. But, in this case, it comes from the iPhone maker - and with this endeavour, Apple became a force in Hollywood, known for award-winning series, films, and documentaries.

Apple TV has been on the rise as a prominent streaming platform with the production of original content. From thought-provoking dramas to heart-warming comedies, Apple TV offers a diverse range of shows that cater to a wide array of interests and preferences. Apple's streaming platform, has a ton of high-quality original content with more being added frequently. With gems such as 'The Morning Show', 'The Afterparty', 'Central Park' and more. Cast of 'The Morning Show' received 11 nominations and an Emmy with Billy Crudup awarded the Outstanding Supporting Actor in a drama series in 2020.

Apple TV+ offers a growing library of original content featuring some of the biggest names in Hollywood, including Oprah Winfrey, Reese Witherspoon, Jennifer Aniston, and many others. The service continues to expand its content library regularly.

The relatively new kit on the scene is already offering some incredible streaming content you can only find on this platform. Some upcoming premieres include 'Argylle', 'Killers of the Flower Moon' and 'Stephen Curry: Underrated'. 'Killers of the Flower Moon' recently made its world premiere at the Cannes Film Festival this year, directed by the Academy Award-winning filmmaker Martin Scorsese and written by Eric Roth and Martin Scorsese. Apple TV+ content has garnered notice by critics and fans alike today.

According to Statista, the number of Apple TV Plus viewers in the United States this year is reported to be 42.1 million, projecting to 47.7 million in 2026. Additionally, the estimated number of Apple TV Plus users worldwide in Q1 of 2022 is reported as 75 million in total by Statista. This sum includes both paid subscribers and access via promotions, as the service used to be free for a year with the purchase of new Apple devices.

Apple TV+ viewership in the U.S. from 2022 to 2026

Source: Statista - Number of Apple TV Plus viewers in the United States from 2022 to 2026(in millions)

Estimated number of Apple TV+ users worldwide in Q1 2022

Source: Statista - Estimated number of Apple TV Plus users worldwide as of March 2022

Baron's insight into Apple TV's revenue with the help of an analyst, Tim Long. He estimates that Apple TV+ make up just 2% of Apple's services revenue and that Apple TV+ earned $1.5 billion in 2022, projecting to $2.2 billion in 2023. Although Apple TV's subscription fee of $6.99 a month beats their competitors, their library of content is small as they're focused on the quality of their original series. This is evident in the recognition they've garnered from prominent award such as Critics Choice Association, Academy of Motion Picture Arts and Sciences, British Academy Film Awards and more.

Apple hasn't reached out for franchise opportunities as well as global reach for content, which pushes them backwards as a streaming platform. Recent titles which have been crowned awards include 'Severance' (2022), which won the Best Drama Series and Best New Series at the 75th Writers Guild Awards (WGA) along with 'The Boy, the Mole, the Fox' (2022), which won an Oscar for Best Animated Short Film, at the 95th Annual Academy Awards ceremony in Los Angeles. With critical acclaim worldwide, Apple TV continues to be on their rise with their production, focusing on captivating viewers worldwide and expanding their digital presence as a streaming platform.

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