Apple TV+ places a premium on quality over quantity, and it paid off at this year’s Academy Awards. It was the first time at the event that a streaming service took home the Best Picture Oscar. In addition, during the Emmy Awards, the studio took home the title for Best Comedy for Ted Lasso.
According to the Wall Street Journal, Apple TV+’s programming is always focused on quality investment, despite the fact that it lacks the depth of Netflix and Disney+’s catalogs. TV+ is also known for The Tragedy of Macbeth, Wolfwalkers, Ted Lasso, and The Morning Show, in addition to the Oscar-winning CODA.
In its two years of existence, Apple TV+ has won over 250 awards and received nearly 1,000 nominations.
“It appears that Apple, given its lack of library and [intellectual property] portfolio, has really attempted to stress quality over quantity,” Michael Nathanson, media analyst at MoffettNathanson, told the Wall Street Journal.
According to Apple’s most recent quarterly report, income from its services sector increased by nearly 24% to $19.5 billion.
“Although the $4.99-per-month streaming subscription accounts for a small portion of that revenue, it has risen gradually since its inception,” noted Bernstein analyst Toni Sacconaghi.
Apple TV+ revenue nearly doubled to $2.2 billion in fiscal year 2021, according to Toni Sacconaghi, a Bernstein analyst.
When Apple launched Apple TV+ in 2019, it gave users a year of free service regardless of whether they purchased a new iPhone, iPad, Apple TV, or Mac. Not only that, but Apple is currently offering three months of free streaming to everyone who purchases an Apple product. In addition, some shows are available for free so that consumers may get the most out of their streaming service.
Apple TV+ has around 12 million paying customers in the United States, according to MoffettNathanson. Apple’s commitment to more than only TV episodes, documentaries, and movies has been reaffirmed by the Wall Street Journal in order for the company to continue to develop.
Apple is also pursuing sports as a means of generating interest in its streaming service. They recently reached an agreement with Major League Baseball to bundle the game on Friday nights exclusively.
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