Apple is actively negotiating with major Hollywood studios to license a wider array of films for its Apple TV+ streaming service, according to sources familiar with the discussions (via Bloomberg).
The Morning Show | Apple TV
The tech giant has engaged in discussions with several leading studios to acquire more programming from their extensive libraries. This effort is part of the company’s strategy to diversify the content available on Apple TV+, which has traditionally focused almost exclusively on original productions.
Despite achieving some success with original hits like the comedy series Ted Lasso and the drama The Morning Show, Apple TV+ remains less subscribed compared to its competitors.
On the other hand, streaming services like Netflix and Disney+ offer a rich blend of original content alongside a vast library of classic TV shows and films. This mix has proven successful in retaining subscribers.
According to a recent research from Antenna, Apple TV+ is currently used by only 11% of US households, whereas Netflix boasts a usage rate of 55%. Furthermore, data indicates that Netflix experiences the lowest cancellation rate among major streaming services.
Earlier this year, Apple took a significant step by licensing approximately 50 films from various Hollywood studios for its US audience. This included popular titles such as Mean Girls and Titanic.
The success of this initial experiment has encouraged Apple to pursue further licensing deals, potentially expanding the availability of these films internationally and acquiring additional titles.
Mean Girls | Apple TV
Apple’s efforts to diversify its content come at a time when the company has achieved its highest number of Emmy nominations, with 72 nods this year.
Despite this success, the platform’s overall performance has been mixed, with some original films, like the spy action picture Argylle, failing to resonate with audiences.
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