Apple TV+’s quality over quantity approach to streaming is paying off with tastemakers as it’s quickly become a critical darling.
While Apple TV+ doesn’t have nearly as deep a catalog as streaming giants such as Netflix Inc. and Walt Disney Co.’s Disney+, it has become a critical darling. Sunday night’s Academy Award win for “CODA”—the first time a streaming service won best picture—comes just months after Apple TV+’s “Ted Lasso” took home the Best Comedy trophy at the Emmy Awards.
“It appears that Apple, due to a lack of library and [intellectual property] portfolio, has really tried to stick to quality over quantity,” said Michael Nathanson, a media analyst with MoffettNathanson.
Revenue from its services business, which includes Apple TV+ subscriptions, rose by about 24% to $19.5 billion in the October-to-December quarter. While the streaming service, which costs $4.99 a month, makes up a small portion of those revenues, it has grown steadily since its launch. Revenue for Apple TV+ nearly doubled in its fiscal 2021, which ranges from October to September, compared with its fiscal 2020, to an estimated $2.2 billion, according to Toni Sacconaghi, an analyst for Bernstein.
Besides “Ted Lasso,” Apple TV+’s breakout original shows include “The Morning Show,” a look at the world of TV news with a high-profile cast headed by Jennifer Aniston and Reese Witherspoon, and the new dystopian workplace drama “Severance” directed by Ben Stiller and starring Adam Scott and Patricia Arquette.
MacDailyNews Take: “Severance,” if you haven’t yet seen it, is beautifully shot and extremely well-acted. It’s a compelling, thought-provoking series – high recommended.
“CODA‘s Best Picture win is “a huge boon for Apple TV+ and vindication of Apple’s quality over quantity launch strategy. As the quantity of award-winning features and series piles up, so too will Apple TV+ subscribers.” – MacDailyNews, March 25, 2022
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