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In February, Apple TV+ topped 10 million subscribers. Expanding content with Hollywood older shows and films, Apple TV+ will gain more traction. AAPL stock is rising in the pre-market.
In November 2019, Apple Inc (NASDAQ: AAPL) introduced its Apple TV+ streaming service that features Apple Originals – series, shows, films, etc. that are added every month. Now, the company is expanding Apple TV+ content and acquiring rights to older shows from Hollywood studios. The move represents Apple’s new strategy to meet the competition of Netflix, Disney+, Amazon’s Prime Video, and Hulu that have huge libraries with multifarious content.
Adding of Hollywood Shows to Apple TV+
For example, Netflix Inc (NASDAQ: NFLX) offers thousands of titles to choose from, while Apple TV+ only lists about 30 original movies and shows. However, its advantage is price: Apple TV+ costs $4.99 a month, which is at least twice less than Netflix’s subscription. Besides, Apple TV+ provides a free one-year trial for those who buy Apple devices.
In February, Apple TV+ topped 10 million subscribers. According to the Bloomberg report, this figure includes a lot of those on the one-year free trial rather than active subscribers who have paid for the service. In comparison with Disney+ that signed up the same number of users within a day of its US launch, this amount is poor. Nevertheless, Apple TV+ helps to grow Apple’s services segment.
Expanding content with Hollywood older shows and films, Apple TV+ will gain more traction.
Apple (AAPL) Stock Performance
Following the positive news, Apple (AAPL) stock has grown by 0.97% in the pre-market. At the moment of writing, it is $316.19 per share.
Yesterday, Apple stock’s closing price was $313.14. It slightly rose after hours, to $314.54.
Apple stock was not immune to the novel coronavirus and started falling after reaching the all-time highest closing price of $327.20 in February. But having survived in the market crash in March, Apple stock started recovery. Lately, it has been in the green. In the last 12 months, it is still up more than 68%.
Apple Getting Back to Business after COVID-19 Pandemic
Some believe Apple stock is a good buy now. The company is gaining strength after the pandemic, as evidenced by its plan to reopen stores in the U.S. and Canada. More than 100 stores have already reopened, with 37 more resuming work this week. Needless to say, Apple will keep safety measures. Face coverings are required for all its teams and customers, Apple will provide them to those who don’t bring their own. Besides, staff will check the temperature and conduct enhanced deep cleanings of the stores.
There are still risks of possible second coronavirus wave, which will be challenging not only for Apple. But as its senior vice-president for retail and people, Deirdre O’Brien, said, reopening does not rule out the possibility of closing it again. If necessary, Apple will close its stores again.
To check out more coronavirus updates, please, follow the link.