Since its launch in November 2019, Apple TV+ has experienced very slow but steady growth. From a 3% market share in 2020, Apple’s video streaming service reached a 5.6% market share in February 2022. According to new stats shared by JustWatch, Apple TV+’s global market share increased in the last five months because of new Apple Original shows and movies like “The Foundation”, “Ted Lasso”, “Finch”, “CODA” and others.
Recently, Apple announced the streaming “Friday Night Baseball” games on Apple TV+, two games every Friday night during the regular season in right select regions but will launch in more countries soon. Such exclusive content is likely to attract more subscribers to the service.
With a 0.6% increase in market share, Apple TV+ gets closer to HBO Max
Although the reduction in a free trial period for new customers resulted in a drop of Apple TV+’s market share below 5% from July to September, the video streaming service regained a stable position in the following month. The addition of new subscribers pushed Apple TV+’s market share beyond the 5% mark in October 2021 and the upward trend has continued in 2022.
In January this year, JustWatch reported that Apple TV+’s market share increased by 2% in 2021 in the United States. As per the new ‘video streaming’ market survey, the global market share of Apple TV+ has reached 5.6% which brings it closer to HBO Max.
Newly launched streaming service HBO Max keeps expanding its market share due to launching its service in Europe. Peacock and Peacock Premium both weren’t able to pick up traction whereas AppleTV+ gained momentum after initial drops. Apple’s streaming service is close to overtake HBO Max globally.
Even though Apple Original content has not attracted a ton of subscribers, it has certainly earned Apple Studios numerous awards and nominations. Recently, Apple’s popular comedy series “Ted Lasso” and original movie “CODA” won five Critics Choice awards adding to a total of 224 wins and 950 nominations in just two years.
When questioned about an increase in Apple TV+ monthly subscription fee at the Q2 2021 earnings call like Netflix, Hulu, and other services, CEO Tim Cook said that the company does not plan to jack up the price, and at the moment, its focus is on providing quality content.
TV+ — let me start with TV+. TV+ is going very well. As you know, the objective and the philosophy that we’ve had on TV+ is to create high-quality original content and to be one of the most desired platforms for storytellers. And I see that happening day by day as we sign more shows and more storytellers including Malala as I had mentioned in my opening comments.