Apple Purchasing Older Shows For TV+, As The Service Hits 10 Million Subs

Apple is purchasing older movies and TV shows for its Apple TV + video streaming service, aiming to build a back content catalog to better compete with Netflix, Hulu, and Disney +, as per Bloomberg.

People familiar with the matter said that Apple’s video program executives have obtained authorization from Hollywood studios and acquired some older shows and movies. Apple's move represents a subtle strategic shift in Apple TV +.

TV + was launched in November last year when it was principally based on original programming, and people familiar with the situation also pointed out that Apple will still plan to concentrate Apple TV + on original programming, so this time the company hasn't brought "huge franchises or blockbusters" for its back catalog.

Nonetheless, this depicts Apple's recognition that "successful streaming services customarily require a mix of new and old shows." This hybrid model has also been pursued by rivals Netflix, Disney's Hulu and Disney +, and Amazon Prime Video.

For services like Netflix, its users have thousands of content to choose from. In contrast, Apple TV + boosts less than 30 original movies and shows. But the advantage of Apple TV + is that its price is much lower than its competitors, as its monthly fee is only $4.99, which is less than half of the Netflix subscription price. For users who purchase Apple devices, they can also use it for free for one year.

Lastly, Bloomberg reveals that about 10 million people had signed up for TV+ by February, though, only about half that number actively used the service, according to the people familiar with the matter.

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