Is Apple TV+ breaking out in streaming? It might be
And if you’ve not watched Severance yet, you should..
Apple may be about to break out in the streaming market.
The company’s TV+ service was the fastest growing major SVOD streaming service in major markets in Q1, the latest data shows. That’s got to be good news to the company’s content creation teams and suggests that the quality of the shows Apple’s service provides are beginning to achieve good traction.
Perhaps quality actually does count?
Commenting on this I can only say that the shows I’ve been watching on the Apple service have all been a cut above much of the junk that passes for entertainment, and people who I’ve told about those shows have all reported back positive once they see them. Perhaps Apple’s original determination that quality counts is actually being proven true?
It seems to be.
Apple TV+ were the fastest growing SVoD service with a multi-market presence in terms of % subscriber growth thanks to free trials and hit shows.
The latest Kantar data claims that household penetration of video on demand streaming services increased across nearly all markets between Q4 23 and Q1 24. (Interestingly, only the utterly depressed UK saw a decline, potentially reflecting its appalling governance on both sides of the house).
Apple TV+ has momentum
Andrew Skerratt, Global Insights Director at Kantar Worldpanel, said,
“The latest Q1 data emphasises the evolving nature of the global VoD landscape. AppleTV+ maintained its momentum from 2023 with strong subscriber growth, while Netflix shone in Europe, and local services like Movistar+, JoynPlus+, and Kayo showcased stellar performances in their respective markets.
There was one more lesson for streaming service provides0: Consumers really don’t like ads. When Amazon Prime introduced them the number of subscribers reduced.
“The trend towards ad-supported models remained prominent, though met with resistance from certain user bases, particularly on Prime Video,” said Skerratt.
“These developments, coupled with Disney+’s exploration of ‘always on’ programming, highlight this everchanging landscape. With household preferences shifting just as quickly, there is a critical need for services to adapt in order to both sustain and expand their subscriber base.”
Perhaps a determined focus on quality will be the path ahead. Though Apple does seem to suffer some subscriber churn. “To sustain its growth, Apple TV+ must focus on expanding its content library and enriching the user experience,” Kantar said.
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