Wall Street Firm: Apple TV+ Will Have Little Impact on Netflix
September 12, 2019
Apple is set to launch its $4.99 branded Apple TV+ streaming video service on Nov. 1 — less than half the price of Netflix. The media giant is also spending $6 billion on original content.
Wall Street’s Bank of America Merrill Lynch says Netflix has nothing to worry about. The investment bank says Netflix has significant advantages over Apple TV+ when moving past the media hype.
“We don’t see Apple TV+ in its current form as likely to disrupt Netflix’s positioning as the subscription video-on-demand staple for consumers,” analyst Nat Schindler wrote in a note.
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Specifically, the investment firm contends Apple TV+’s nine original titles streaming at launch are dwarfed by more than 400 original series available on Netflix.
The SVOD pioneer also has nearly 4,000 movies and 1,800+ episodic series available.
“We see Apple TV+ as likely to be hit-driven in the near term, with subscribers turning it on and off based on whether a series gains mainstream appeal,” Schindler wrote. “Apple’s content library gains scale to compare to Netflix or Amazon, it is likely as a nice-to-have for Apple device users/buyers and no substitute for Netflix’s large catalog of licensed content and originals.”