Streaming video services like Apple TV+, Disney+, HBO Max, and others are constantly finding it difficult to retain new subscribers. Many of them sign up for major new movie releases, but end up leaving after a while.
Greyhound saw over 100,000 new Apple TV+ signs up within three days of release
As per data shared by Antenna with WSJ, streaming video services constantly need new content to ensure that new users sign-up get a boost. All the recent entrants like HBO Max, Disney+, and Apple TV+ are aiming for part of the market that Netflix and Prime Video own, largely due to their larger content offerings and constant influx of new content.
WSJ reports that Apple TV+ saw a major boost in new sign-ups when Tom Hanks’ “Greyhound“, a World War II movie, was released on the service. The service saw 59.24 thousand new sign-ups on release day in the United States, but the numbers kept falling after the release. Note that none of these numbers include free trials that are available with the purchase of new Apple products.
More than half of these new sign-ups within three days of “Greyhound” were gone after six months. This is the situation with all new major movie releases across Disney+ and HBO Max too.
However, the situation is different when it comes to episodic content. Shows like “Ted Lasso” were released at a rate of one episode per week, which helped keep users stick around for a longer period.
Apple TV+ also faces a different challenge compared to other video streaming competitors – it is still building up its content library. The service does not include content from other parties, similar to Netflix and Prime Video, and neither did it acquire other companies like Disney+ acquired Fox, to gain access to content. All the content that Apple TV+ creates or acquires is original, so its offerings lack in quantity, compared to competitors.