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A few days ago, Apple confirmed that Apple TV+, its new streaming service, will launch on 1st November.
It will be available in a long list of countries, and the monthly subscription fee of $4.99 seems rather attractive.
Yet people who should know claim that Apple TV+ doesn’t have much of a chance of unseating Netflix.
Financial analysts from Bank of America Merrill Lynch believe that Netflix has a massive advantage over its Apple counterpart in terms of content.
They predict that, in its present format, Apple TV+ is unlikely to give Netflix much competition.
An example they quote is the fact that Apple TV+ will launch with only nine titles – yes, that’s correct, nine titles.
Compared to Netflix which, according to Newsonnetflix.info, currently has 5,809 movies and shows in its catalogue, this seems like a rather meagre collection.
Bank of America Merrill Lynch said: “We see Apple TV+ as likely to be hit-driven in the near term, with subscribers turning it on and off based on whether a series gains mainstream appeal.”
The bank added that until Apple TV+ could compete with Amazon or Netflix in terms of original shows and licensed content, it will most likely remain a ‘nice-to-have’ for those who own an Apple device.
People who have been using Netflix for years are unlikely to jump ship now due to the wide selection of shows and the platform’s familiarity.
More than nine shows will be required to make them switch to the Apple alternative.
Nevertheless, there will no doubt be a fair number of binge watchers who subscribe to both channels.
Apple, of course, has an ace up its sleeve: if you buy a new iPhone, iPad, Apple Mac or Apple TV, then you will get a full year of Apple TV+ for free.