Apple TV+ has been making significant strides in the US market, with its share of the streaming market growing steadily over the past year. However, the tech giant still lags behind its competitors, such as Netflix, Amazon Prime Video, and Disney+, in terms of subscribers and revenue.
According to a recent report by research firm eMarketer, Apple TV+ now holds a 7.4% share of the US streaming market, up from 4.6% in 2020. This growth can be attributed to a combination of factors, including an increase in the number of original content offerings, partnerships with popular creators and talent, and aggressive marketing campaigns.
One of the key drivers of Apple TV+’s success has been its focus on creating high-quality original content. The streaming service has released a number of critically acclaimed shows and movies, such as “Ted Lasso,” “The Morning Show,” and “CODA,” which have helped to attract and retain subscribers.
In addition, Apple TV+ has secured partnerships with some of the biggest names in Hollywood, including Oprah Winfrey, Steven Spielberg, and Reese Witherspoon, all of whom have produced exclusive content for the platform. These partnerships have helped to differentiate Apple TV+ from its competitors and appeal to a wider audience.
Furthermore, Apple has invested heavily in marketing its streaming service, with ad campaigns featuring A-list celebrities and high-profile events such as the Oscars and Emmys. This has helped to raise awareness of Apple TV+ and drive subscriptions among consumers.
Despite its growth in the US market, Apple TV+ still faces stiff competition from the likes of Netflix, Amazon Prime Video, and Disney+. Netflix remains the dominant player in the streaming industry, with over 200 million subscribers worldwide, while Amazon Prime Video and Disney+ have also seen significant growth in recent years.
In terms of revenue, Apple TV+ also lags behind its competitors, with estimates suggesting that the streaming service generated around $1.4 billion in revenue in 2021, compared to Netflix’s $28.8 billion and Disney+’s $16.7 billion.
Looking ahead, Apple TV+ will need to continue to invest in original content, forge strategic partnerships, and ramp up its marketing efforts in order to compete with its rivals and capture a larger share of the streaming market. With its strong brand recognition, loyal customer base, and innovative approach to content creation, Apple TV+ has the potential to become a major player in the streaming industry in the years to come.
