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Since its inception in 2019, a notable streaming platform has consistently delivered critically acclaimed content, yet it remains overshadowed compared to its more popular counterparts. You may have overlooked this service altogether or missed its most ambitious projects in theaters, but there are reasons for this — and potential solutions.
Apple TV+ boasts exclusive productions featuring renowned Academy Award winners such as Tom Hanks, George Clooney, and Matt Damon. It even claimed the prestigious Oscar for Best Picture with CODA just a short time ago. Additionally, the platform is home to a variety of original series, with highlights like the uplifting comedy Ted Lasso, a WWII drama produced by Steven Spielberg, a charming show starring Harrison Ford, and critically lauded dramas like The Morning Show.
However, despite its impressive lineup, many viewers may not have experienced these films or series due to Apple TV+’s low visibility. With considerable financial investment into its streaming service, only a handful of its offerings have gained traction on ratings charts. Apple TV+ faces not only lower subscription figures compared to its peers but also a significant lack of rating presence. Additionally, it seems to struggle with defining its unique identity in the crowded streaming market.
Nevertheless, Apple TV+ holds immense potential, and there are strategic avenues it could explore to compete more effectively with platforms like Disney+ and Netflix. Here are some recommendations to bolster Apple TV+’s standing in the streaming arena.
1. Expand the Content Library.
While Apple TV+ features a selection of high-quality shows, it lacks a broader library that could keep viewers engaged after they finish their favorite series. To minimize subscriber turnover, Apple needs content diversity to draw viewers back regularly. One pragmatic approach would be for Apple to invest in acquiring an established studio and its extensive catalog.
A good candidate could be Lionsgate, which has been seeking a buyer. Lionsgate has successful franchises like The Hunger Games, John Wick, and Twilight, along with its STARZ network, home to popular shows such as Outlander. Acquiring Lionsgate would not only amplify Apple TV+’s offerings but also weaken the competition posed by Peacock, which has ongoing partnerships with the studio.
If Apple is determined to make a significant impact, acquiring Warner Bros. Discovery could be a game-changing move. CEO David Zaslav has expressed interest in either selling or partnering up. A merger would provide Apple access to an extensive HBO library filled with acclaimed series like The Sopranos and The Last of Us, alongside major film franchises such as Batman and The Lord of the Rings.
2. Revise Theatrical Release Strategy.
Despite its trailblazing achievement of being the first streaming service to win an Academy Award with CODA, Apple has not fared well at the box office. Its heavy financial commitments have resulted in disappointing returns. Recent reports indicate that Apple has spent excessively on film projects with little success, prompting a reassessment of budget strategies.
High-profile releases like Killers of the Flower Moon and Napoleon did not perform as expected. Apple has recently signaled a lack of confidence in its release strategy by pulling films like Wolfs from theaters. To turn around its cinematic performance, Apple might consider a more selective approach, focusing on producing high-quality films that require smaller budgets. CODA, made on a modest budget, exemplifies the type of project that could yield both critical acclaim and commercial viability, especially if marketed effectively to attract audiences.
3. Appoint a New Marketing Leader.
After the abrupt departure of Ricky Strauss, who previously headed marketing efforts at Apple TV+, the company has yet to appoint a replacement. Strauss’s tenure lasted less than two years, indicating potential instability in the marketing approach.
Apple has demonstrated exceptional branding prowess within its product lines, from iPhones to Macbooks. However, this expertise does not seem to extend effectively to promoting Apple TV+ content. Few people could likely name several original series outside of the well-known Ted Lasso and The Morning Show. A dedicated marketing chief could focus on establishing a distinct identity for Apple TV+ and enhancing visibility for its strong catalog, which includes compelling shows such as Shrinking and Bad Monkey.
4. Secure Meaningful Sports Partnerships.
Although Apple TV+ currently broadcasts Friday Night Baseball and Major League Soccer, these offerings fall short of creating substantial viewer engagement. Sporting events can play a pivotal role in attracting and retaining subscribers, as seen by deals made by rivals like Netflix and Amazon.
Securing a partnership with a prominent sports entity could help shift the narrative. For instance, ESPN’s broadcasting rights for Formula 1 will expire in 2025, and with Apple producing a film involving F1, this could be an opportune time for collaboration. Furthermore, with the possibility of NFL rights becoming available after the 2028-2029 season, securing such a partnership could establish Apple TV+ as a significant player in the sports broadcasting arena.
5. Collaborate with Netflix.
As the leading name in streaming, Netflix continues to invest heavily in acquiring content from other studios while also boasting a robust slate of originals. Their licensing agreements have brought numerous popular shows into the platform, revitalizing older series and bringing new audiences to them.
Apple TV+ could benefit from a similar strategy by allowing Netflix to host the initial seasons of its acclaimed original shows. This would create pathways for new viewers to discover these series, driving them to Apple to continue watching. Shared ventures with Netflix could fuel the funds needed for sports licensing deals and elevate Apple TV+’s profile in the competitive streaming landscape. Such collaboration would not only enhance content distribution but also benefit both platforms in subscriber growth.
Source
www.tvinsider.com