In a strategic move to enhance its Apple TV+ streaming service, Apple (NASDAQ:AAPL) recently incorporated the acclaimed director Martin Scorsese’s latest film, “Killers of the Flower Moon.” This cinematic endeavor, based on the book of the same name by David Grann, features an impressive cast, including Leonardo DiCaprio, Robert DeNiro, and Lily Gladstone in pivotal roles.
Notably, “Killers of the Flower Moon” marked a milestone as the first Apple Original Films release to enjoy a broader theatrical run, achieving approximately $150 million in global box office sales. The film has garnered widespread critical acclaim and stands as a leading contender for a best picture nomination at this year’s Academy Awards.
Apple TV+’s Focus on Quality Content
Amidst the growing competition from streaming giants like Netflix, Disney, and Amazon, Apple has consistently prioritized delivering high-quality content for its Apple TV+ service. A report from Deadline, cited by 9TO5 Mac, indicates a doubling of Apple TV+ consumption in 2023, with a notable 42% year-over-year surge in total viewership.
Key contributors to this success include a range of movies and shows such as “The Family Plan,” “The Morning Show,” “Lessons in Chemistry,” “Messi Meets America,” “Slow Horses,” “For All Mankind,” “Silo,” “Hijack,” “Bad Sisters,” and “Ted Lasso.” The Mark Wahlberg-starrer “The Family Plan,” which premiered on December 15, achieved the status of the most-viewed movie since the service’s inception.
Despite an impressive content portfolio, Apple TV+’s market share gains have not been as substantial as expected. According to a JustWatch report cited by 9TO5Mac, Amazon Prime Video leads in market share with 22%, followed closely by Netflix at 21%. Other competitors like Max, Disney+, and Hulu secure 15%, 12%, and 11% market share, respectively. While Apple TV+’s market share increased from 6% to 7%, it still trails behind its major competitors.
Market Performance and Outlook
In the past year, Apple’s shares have outperformed Disney but lagged behind both Amazon and Netflix. Apple recorded a return of 38%, whereas Amazon and Netflix achieved gains of 57.6% and 47.9%, respectively. Meanwhile, Disney experienced a 9.1% drop in its share value during this period.
As Apple continues to invest in compelling content for Apple TV+, its ability to gain a larger market share will likely be a key focus in the competitive streaming landscape.
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