Apple TV+ could take a big bite out of Netflix

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Tim Cook does not think rivals are 'afraid' of Apple TV+
Apple CEO Tim Cook shows off some of the shows coming to Apple TV+.
Photo: Apple

Apple TV+ could have 100 million subscribers in 3 to 4 years, according to an analyst that’s bullish on this streaming service set to launch next month.

Strong demand for a rival is bad news for Netflix.

Apple TV+ is a showstopper

“We remind investors of the ‘show-stopping’ low price for Apple’s streaming TV service at $4.99 per month taking a major shot at its content competitors with Netflix front and center,” said Dan Ives, an analyst with Wedbush Securities.

Ives goes on to predict that TV+ could “disrupt roughly 10% of Netflix’s target customer base within the next 12 to 18 months.”

The analyst says Apple’s plan to spend $6 billion a year on content for the service is enough for it to create original programs that can draw in subscribers. A former Netflix executive agrees.

Apple’s share price jumped about 2.5% percent today, partially buoyed by this prediction.

More on Apple’s streaming video service

Apple TV+ is coming to screens November 1. It can be watched on iPhone, iPad and Mac, as well as Apple TV set top boxes. A variety of third-party TVs will be able to access it as well.

This subscription service will launch with See, The Elephant Queen, The Morning Show, Helpsters, Dickinson, Ghostwriter, For All Mankind and Snoopy in Space.

It’s $4.99 for a subscription, but anyone who bought a new iPhone or iPad this fall gets it free for a year.

Via: SeekingAlpha