Analyst: ‘CODA’ Oscar Win Could Boost Apple TV+ Subscriptions, Content Spending

Apple’s surprise Best Picture win for CODA at March 27’s 94th Academy Awards was more than a breakout moment for company’s Apple TV+ subscription streaming service. It could help jumpstart subscriber interest in the service, according to Dan Ives, analyst with Wedbush Securities, who characterized the win a “drop the mic moment” he contends would help drive SVOD subs and attract more Hollywood creatives to the platform.

While Apple has never officially disclosed SVOD subscriber data, Ives believes the platform, which launched a week before Disney+, has about 25 million paid subscribers, in addition to 50 million global users who access the platform via promotions that include a free 12-month subscription to anyone buying an Apple product.

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“We view this Oscar win as a game changer for Apple on its content efforts and legitimizes the Apple TV+ as a major streaming platform with much more success ahead and the Street now starting to take more notice,” Ives wrote in a March 28 note.

The analyst believes Apple is spending about $7 billion annually on content, a tally that is half the size of Netflix’s annual content budget. That figure could increase following the success of CODA, which takes its title from the acronym for “Child of Deaf Adults.” The movie features Emilia Jones as the title CODA.

Co-star Troy Kotsur won the Oscar for Best Supporting Actor, a first for a deaf male actor.

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