Apple Enters Streaming Space: Is it too late to the game?
Syeda Maseeha Qumer
Tech giant Apple’s business priorities are shifting as iPhone sales continue to drop. Currently much is being discussed about the company’s foray into streaming space as it launched its own subscription based streaming service called Apple TV Plus on November 1, 2019. Long accustomed to selling premium products at high prices, Apple’s streaming venture will aggressively undercut rivals with a US$4.99 monthly price. With its new video streaming service the iPhone maker is looking to take on established players such as Amazon and Netflix and new entrants Disney+ in the streaming space with a slew of original and star-studded shows, series, and movies.
Apple TV Plus arrived with two distinct strengths — a global user base and high market value. However the main drawback of the service is its limited library. While its competitors have thousands of titles to offer, Apple has entered the streaming market with a handful of series and no licensed content. The company does not have its own studio to produce shows.
Also streaming being a cost-intensive business, Apple TV Plus may be in the red for years due to its lower price point. Apple will have to spend a lot of money without generating much revenue in return in order to establish a foothold in the streaming business. It could also rack up a lot of losses, along the way.
Can Apple box out competitors and break through a crowded global streaming market? Or is it too late to the game?