According to the latest report, it has been more than two years since Apple launched the streaming media platform Apple TV+, which provides exclusive movies and TV shows.
While Apple TV+ has grown slowly, the global market share has increased over the past five months, bringing Apple’s subscription service closer to HBO Max.
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Moreover, Apple TV+ lost some subscribers after Apple reduced the free trial period for new customers in July 2021.
Apple TV+’s market share fell below 5% in July-September 2021, but the platform regained subscribers in October 2021, surpassing the 5% mark.
The influx of new subscribers to Apple TV+ during this period may have been due to the release of highly anticipated new shows and seasons of TV series last September and October, such as “The Base,” “The Invasion,” and the second season of “The Morning News.”
In February 2022, Apple TV+ had a global market share of 5.6% that’s still well behind major competitors like Disney+ and Netflix but is approaching HBO Max.
The streaming platform, which is owned by WarnerMedia, lost subscribers last month, even as it is expanding into more European countries. The sources estimate that HBO Max has 7% of the global streaming market share.
New streaming service HBO Max is gaining market share thanks to its European launch. Both Peacock and Peacock Premium failed to gain momentum, while Apple TV+ gained momentum after an initial dip. Apple’s streaming service is close to surpassing HBO Max in global share.
Furthermore, the highly anticipated releases will certainly help bring new subscribers to the streaming platform, a recent study suggests they won’t be enough to keep those subscribers subscribed long-term.
Apple is reportedly hoping to release at least one new piece of content a week on Apple TV+, perhaps putting Apple’s streaming service on par with other platforms.
