Apple’s Push Into TV Is ‘Failing to Resonate,’ Analyst Says
- Unlike Netflix or Disney, Apple TV+ has few content offerings
- Shares have gained for months but are facing coronavirus fears
Tim Cook, CEO of Apple, speaks about Apple TV+ during an event in Cupertino, California in 2019.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Apple Inc.’s streaming-video service has gained limited traction with consumers, and this could represent a cautious signal as the company moves away from hardware sales and toward services, according to Bernstein.
Analyst Toni Sacconaghi estimated that fewer than 10 million consumers had opted for their free 12-month trial of Apple TV+, citing an analysis of the company’s first-quarter results. This equates to 10% or fewer of eligible customers, he wrote, a take rate he called “surprisingly low.” Apple hasn’t disclosed subscriber numbers for the TV+ service.