Apple Buying Streaming Rights for Older Movies and TV Shows for Apple TV+

Apple TV 4K

A Bloomberg report claims that Apple TV+ surpassed 10 million subscribers in February. It also details that the company is changing its strategy as it is now buying rights to older TV shows and movies for the streaming service.

Apple TV+ had initially launched with the focus just on original content. This led to the streaming service launching with just a handful of shows. A few months later, while the content library has grown, it is still notably smaller than the likes of Netflix, Disney+, and Amazon Prime Video. Worse yet, the original shows have not really been praised by critics and they have failed to garner viewers.

This has led to Apple changing its strategy for Apple TV+ as it now looks to acquire the streaming rights of older Hollywood movies and TV shows, though it is yet to acquire any major franchises or blockbusters for Apple TV+. The company will also continue to focus on original content for its streaming service.

As for the 10 million subscribers, while it does sound impressive, one must remember that Apple is offering a free year of Apple TV+ subscription to new iPhone, iPad, Mac, and Apple TV owners for a year which has likely played a major role in boosting the overall subscriber count for the service. As of now, the amount of paying subscribers for Apple TV+ is likely to be on the lower side.

Disney’s streaming service, Disney+, launched around the same time as Apple TV+ and it has already surpassed 50 million subscribers despite its limited availability. Netflix has also added more than 16 million subscribers in the first quarter of this year thanks to the COVID-19 pandemic that has forced people to stay at home and spend more time streaming content. The pandemic has also led to an increase in the usage of Apple TV+ but due to the limited content library, the impact is not expected to be much.

Do you stream content from Apple TV+? Will you pay for it once the free year of subscription is over? Drop a comment and let us know!

[Via Bloomberg]