Is Apple TV Buying Older Shows to Take on Netflix and Amazon?
Apple is reportedly buying older shows and movies.
Once Apple TV+ released last year, the material primarily revolved on new content. The platform had invested an eye-watering sum of capital into producing original programs exclusively for the network, and customers were, naturally, a little skeptical of subscribing to watch content they didn't care about. In fact, audiences were dubious about the additional expense of owning already famous movies and TV shows on the network.
In order to alleviate some of this user anxiety and to compete with huge services like Netflix and Hulu, Apple is apparently purchasing a lot of older shows and movies.
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As confirmed by Bloomberg, Apple TV+ execs are taking offers from Hollywood studios to license older material for the subscription service, and have even purchased several shows and movies — no news yet on what they are, though, or when they're coming in.
According to sources who are acquainted with the matter, Apple wants to stay concentrated on the original series, but aims to fill out the range with its extra offerings to further draw more buyers, as its initial strategy obviously did not result in the figures that it had initially planned for. By February of this year, about 10 million users had signed up to TV+, but just around half of that amount have actually used the app, reports Bloomberg.
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In the meantime, Disney+ signed up 10 million customers within the day of its US launch and already boasts over 50 million subscribers, while Netflix gained almost 16 million additional users in the first four months of 2020. All channels included back catalogs of shows that viewers recognize and enjoy, such as Friends and The Simpsons — by taking a similar model Apple TV+ undoubtedly aims to become a more significant entertainment rival.