Apple, ticker symbol AAPL, bolstered its streaming service, Apple TV+, with the addition of Martin Scorsese’s latest movie “Killers of the Flower Moon.” Prominent figures like Leonardo DiCaprio, Robert DeNiro, and Lily Gladstone take the lead in this adaptation of David Grann’s eponymous book.
The movie, marking the first Apple Original Films release to enjoy an extensive theatrical run, has raked in roughly $150 million in global box office sales. Notably, the film has garnered positive reviews and is emerging as a strong contender for the best picture nomination at the Academy Awards this year.
Robust Content Bolsters Apple TV+
Amid the escalating competition from streaming giants like Netflix, Disney, and Amazon, Apple has been steadfastly investing in top-notch content for its streaming platform.
A report by 9TO5 Mac, citing a Deadline report, unveiled that Apple TV+ consumption doubled in 2023, with a remarkable 42% surge in total viewership.
Quality 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” fueled the increased viewership.
Notably, Mark Wahlberg-starrer “The Family Plan” emerged as the most-viewed movie ever on the platform since its inception. Additionally, the latest season of “The Morning Show” featuring Jennifer Aniston and Reese Witherspoon witnessed a 20% spike in viewership compared to the second season.
Market Share Dynamics
However, despite the impressive content portfolio, Apple TV+ is yet to translate this into a significant market share gain. According to 9TO5Mac, as per a JustWatch report, Amazon Prime Video secured the top spot with a 22% market share in the United States, followed by Netflix at 21%. Meanwhile, Max, Disney+, and Hulu captured 15%, 12%, and 11% market share, respectively. Apple TV+ managed to increase its market share marginally from 6% to 7%.
In the past year, Apple’s stocks have outperformed Disney but lagged behind Amazon and Netflix. While Apple has achieved a 38% returns, Amazon and Netflix have gained 57.6% and 47.9%, respectively. On the other hand, Disney shares have witnessed a decline of 9.1%.
Currently, Apple flaunts a Zacks Rank #1 (Strong Buy).
