The number of Apple TV+ subscribers has more than tripled in the past two years, according to data from a market-analysis firm.
Apple’s streaming service now sits in the middle of the pack in the battle against competitors like Netflix, Hulu and Disney+.
Apple TV+ subscribers grow by leaps and bounds
Ever since premiering in late 2019, Apple TV+ has faced tough competition from a growing crowd of streaming services. The streamer’s strategy to stand out has been to draw in customers with award-winning content.
And it’s working. The number of Apple TV+ subscribers has grown dramatically, according to a report from Antenna. This market-analysis company breaks subscribers into two groups: those who pay more to avoid advertising, and those who pay less to stream video with commercials.
Apple TV+ captured 11% of the ad-free streaming market in May 2023, up from 3% in the same month two years ago. It remains well behind Netflix, which dominates with 32% of this market segment. However, Apple TV+ is closing in on Disney+, which has 13%, and is ahead of Paramount+ and Max.
No ads on Apple TV+ … yet
Apple doesn’t compete at all in the ad-supported segment of the market that Antenna also tracks. At least it hasn’t so far. Some recent reports indicate that Cupertino is considering the possibility of adding adverts to its streaming service. Apple also hired Lauren Fry to grow the advertising business on Apple TV+.
If Apple TV+ does offer an ad-supported tier, it’s possible that will bring another jump in subscribers. If the company follows the path laid down by its competition, there’ll be two tiers for customers to choose from: one without ads and one that costs less but requires viewers to watch commercials.
Via: Business Insider