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Sunday, February 5, 2023

Globally, Apple TV+ takes on HBO Max and gains market share

Since Apple launched its own streaming service featuring exclusive movies and television shows, it has been more than two years since the service was launched. While Apple TV+ has been growing slowly over the last five months, its global market share has increased, putting Apple’s subscription service on par with HBO Max.

According to a new survey from JustWatch, Apple TV+ lost some users after Apple reduced the trial period for new subscribers in July 2021. Apple TV+’s market share declined below 5% between July and September 2021, but the platform regained subscribers in October 2021, surpassing the 5% mark.

The influx of new Apple TV+ subscribers in September and October may have been explained by the release of highly anticipated new shows and seasons, such as Foundation, Invasion, and The Morning Show.

The global market share of Apple TV+ in February 2022 was 5.6%, which is still far behind major competitors like Disney+ and Netflix, but is getting close to HBO Max. Despite expanding to more European countries, WarnerMedia’s streaming platform lost subscribers last month. HBO Max has a market share of 7% of the global streaming market, according to JustWatch.

HBO Max, a recently launched streaming service, continues to increase its market share due to its launch in Europe. Peacock and Peacock Premium both weren’t able to pick up traction whereas AppleTV+ gained momentum after initial drops. Apple’s streaming service is close to overtake HBO Max globally.

Despite the fact that highly anticipated releases bring new users to streaming platforms, a recent study shows that they don’t keep those users subscribed for the long run. Apple reportedly wants to release at least one new piece of content each week on Apple TV+, so this may put Apple’s streaming service on par with others.

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