Apple‘s streaming video service hasn’t taken the world by storm. But an analyst predicts strong growth in coming years will push Apple TV+ to over 100 million paid subscribers by 2025.
Samik Chatterjee from J.P. Morgan points out the service’s catalogue keeps getting bigger, with Apple willing to invest plenty of money to continue that trend.
Growing the total of Apple TV+ subscribers
Apple doesn’t reveal how many people currently use its video service, but one analyst says the total is between 30 million and 40 million. And a recent survey indicated that 9% of U.S. households subscribe to Apple TV+. That’s well behind its top rivals, even the recently-launched Disney+.
But Chatterjee predicts that number will grow because Apple is continually making the service better. While there were only a handful of shows when TV+ debuted in November, there are now 30 series, movies or documentaries available or coming soon.
And Apple is willing to put down big bucks to add to that total. As just one example, the company reportedly secured the exclusive rights to upcoming World War II film Greyhound, written by and starring Tom Hanks, for $70 million.
Plus, the J.P. Morgan analyst also pointed to recent reports that the company will increase its video catalogue by buying up the rights to older Hollywood movies and TV shows. That’s something the company avoided until now.
Chatterjee isn’t the only analyst optimistic about the streaming service. Wedbush analyst Daniel Ives said in March that Apple could carve out 100 million subscribers in the next 3-5 years.