Apple CEO Tim Cook has today said that the company’s upcoming video service can co-exist with Netflix and other competitors in the sphere.
Speaking about this, Cook was quoted saying, “There’s a huge move from the cable bundle to over-the-top. We think that most users are going to get multiple over-the-top products, and we’re going to do our best to convince them that the Apple TV+ product should be one of them.”
We should mention that this is a new conciliatory stance by Apple towards companies like Netflix, Hulu, and YouTube. A reason for this can be the fact that Apple now partners with them and relies on such companies for some of its current services revenues. This also includes the likes of Disney‘s upcoming streaming service that will be launched later this year.
Everybody knows that the Cupertino based technology giant aims to replace all of these services and to get as much revenue as possible. However, it is coming to the sphere a lot later than others and also does not have too much content to offer as compared to established players. Netflix and HBO, on the other hand, are known for their award-winning and high-quality content.
Although Apple is currently talking about co-existing with these services, we should also mention that the company plans to spend $2 billion on content in the next one year in order to make sure that its service is at par with others.
But then if we speak about Netflix, which leads this segment, it spent $13 billion on content in 2018 alone. This year, the video-streaming platform eyes to spend $15 billion.
So as of now, Apple has no choice but to co-exist with Netflix, since it will take a lot more money and time to beat the latter in its own game.
Having said that, Apple is really leaving no stone unturned for making its service as attractive as possible. The company has partnered with a number of celebrities including Oprah Winfrey, Steven Spielberg, Reese Witherspoon, Jennifer Aniston, Steve Carel, Kumail Nanjiani, Jason Momoa, Alfre Woodard, JJ Abrams and Sara Bareilles.
Apple is competing directly with the likes of Netflix, HBO, Hulu, Amazon Prime and others when it comes to video streaming. It will be quite a challenge for the Cupertino based technology giant to make its mark in the segment and surpassing all of them, is something that is definitely not happening in the near future.