It has been more than two years since Apple launched its own streaming platform with exclusive movies and TV shows. Although Apple TV+ has been growing slowly, the global market share has increased in the last five months, putting Apple’s subscription service closer to HBO Max.
According to a new report from JustWatch, Apple TV+ lost some users after Apple reduced the free trial period for new customers in July 2021. Between July and September 2021, Apple TV+’s market share declined below 5%, but the platform regained subscribers in October 2021, surpassing the 5% mark.
The influx of new users to Apple TV+ in that period might be explained by the highly anticipated new shows and seasons that were released in September and October, such as Foundation, Invasion, and the second season of The Morning Show
In February 2022, the global market share of Apple TV+ was 5.6% – which is still far behind major competitors like Disney+ and Netflix, but it’s getting close to HBO Max. The streaming platform owned by WarnerMedia lost subscribers last month despite its expansion to more European countries. JustWatch estimates that HBO Max accounts for 7% of the global streaming market share.
While highly anticipated releases certainly help in bringing new users to streaming platforms, recent research shows that they’re not enough to keep those users subscribed for long periods of time. Apple reportedly wants to release at least one new piece of content per week on Apple TV+, so perhaps this will put Apple’s streaming service on a par with other platforms.
Newly launched streaming service HBO Max keeps expanding its market share due to launching its service in Europe. Peacock and Peacock Premium both weren’t able to pick up traction whereas AppleTV+ gained momentum after initial drops. Apple’s streaming service is close to overtake HBO Max globally.
