Here’s some good news for those who loved it when Apple TV+ recently added dozens of Hollywood films to its library (temporarily): The streamer is in talks to license more titles from major studios, according to a new report. So Apple TV+ may add Hollywood movies — maybe in huge numbers — soon enough.
Apple TV+ may add Hollywood movies if licensing negotiations succeed
Apple is in talks with major Hollywood studios to expand its film library for Apple TV+, according to sources close to the negotiations, a new report in Bloomberg said. The move aims to strengthen the streaming service’s offerings both domestically and internationally.
Compared to major competitors like Netflix and Amazon Prime Video, Apple TV+’s library is small. While bigger streamers can blend new content with extensive back catalogs, Apple TV+ primarily focuses on original productions. And it has succeeded in some cases, including Emmy magnets Ted Lasso and The Morning Show. But it has struggled to maintain a consistent stream of popular content on the movie side of things. Some recent film releases, like the spy thriller Argylle, have underperformed, the report pointed out.
Industry data highlights Apple TV+’s challenges. MoffettNathanson reports that only 11% of US households use the service, compared to Netflix’s 55% market penetration. Additionally, Apple TV+ faces higher cancellation rates than rivals with larger content libraries, according to Antenna.
Recent test streamed dozens of hit films
In response, Apple licensed about 50 classic films earlier this year, including titles like Mean Girls and Titanic. Apparently that went well (though Apple never releases specific viewing metrics), so the company now seeks to further licensing deals, potentially expanding offerings internationally.
An this strategy aligns with a broader industry trend. As Wall Street shifts focus from subscriber growth to profitability, major entertainment companies like Warner Bros. Discovery Inc. and Walt Disney Co. have become more open to licensing their content to competitors.
Apple’s move towards licensing more content could significantly impact its position in the competitive streaming market. However, the company has not yet officially commented on these developments.
