Apple AAPL is expanding Apple TV+’s non-fiction content portfolio with the upcoming release of My Mind and Me, a new documentary on popular singer and actress Selena Gomez.
Directed by Alec Keshishian and produced by Lighthouse and Interscope Films, the documentary tracks Gomez’s mental health journey over the years.
My Mind and Me expands Apple’s documentary content portfolio that includes shows and movies like Home, Prehistoric Planet, Greatness Code and The BIG CONN.
Apple TV+ recently released docuseries GUTSY, based on a book by Hillary Clinton and daughter Chelsea Clinton, which highlights bold, courageous and influential women in society.
The docuseries follows Hillary and Chelsea Clinton across eight episodes as they discuss empowerment and influence with the likes of Wanda Sykes, Amy Schumer, rapper Megan Thee Stallion, Kim Kardashian, Gloria Steinem, Abby Wambach, Glennon Doyle, comedian Amber Ruffin and many others.
Apple TV’s Expanding Portfolio to Boost Market Share
Apple has been struggling in 2022, primarily due to coronavirus-induced supply-chain disruptions, industry-wide silicon shortage, unfavorable forex and the ongoing Russia-Ukraine conflict. The near-term outlook is not enthusiastic, given the headwinds.
Shares of the iPhone maker have been down 13% year to date, although it has managed to outperform the Zacks Computer & Technology sector’s decline of 28.9%.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Nevertheless, Apple is keeping no stone unturned to make TV+ a success amid stiff competition in the streaming space from Netflix NFLX, Amazon AMZN and Disney DIS. Competition has further intensified, following the entrance of new services like HBO Max, Paramount+ and Peacock.
Apple TV+ is gaining recognition with its critically acclaimed and popular shows like Ted Lasso. This year, Apple TV+ has earned 52 Emmy nominations, with the second season of Ted Lasso getting 20 nominations overall. Another show, Severance garnered 14 total nominations in its first season.
Per the latest report by JustWatch, cited by 9TO5Mac, Apple TV+ has now surpassed 6% global market share, up from 5.6% reported in March. It is now chasing HBO Max. which has a market share of 7% (unchanged from March).
Netflix remains the leader with 27.3% market share followed by Amazon Prime Video and Disney+ with 24.3% and 18.2% market share, respectively.
For the period beginning January 2021 through August 2022, Apple TV+ grew 29%, while Netflix and Amazon Prime Video declined 14% and 19%, respectively.
Netflix, which is losing subscribers due to stiff competition, is set to launch a cheaper ad tier to attract subscribers. Disney+ is also following suit with its ad-tier offering.
Apple TV+, at a much affordable $4.99, is benefiting from quality content with its strong portfolio of original shows and movies. Its upcoming original movies include The Greatest Beer Run Ever starring Zac Efron, Causeway starring Jennifer Lawrence and Spirited starring Will Ferrell and Ryan Reynolds.
Moreover, Apple TV+ has been signing deals with the likes of Maya Rudolph's production company, Animal Pictures, along with Scott Free Productions, Appian Way, Sikelia Productions and Green Door Pictures, to name a few, to build its content portfolio.
Apple TV+ has also won exclusive rights to broadcast Major League Soccer worldwide for 10 years, starting from 2023.
Expansion of its content portfolio is expected to boost the subscriber base, which bodes well for the Services portfolio, of which Apple TV+ is part. This Zacks Rank #3 (Hold) company had more than 860 million paid subscribers across its Services portfolio at the end of the fiscal third quarter. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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