Apple TV+ will expand its library with older movies and shows
Apple TV+ however was reportedly not enjoying the same level of growth, but even so, Bloomberg now says that the iPhone company's streaming service has seen 10 million people sign up for it by February, although only half of those subscribers actually actively use it.
Regardless, Apple TV+ has done enough to help grow Apple's services sector, which now accounts for 23% of Apple's revenue, so the Cupertino company is said to be looking into expanding its library. More specifically, Apple TV+ will be getting the rights to older shows and movies, with hopes to accumulate a back catalog large enough to attract subscribers from competing streaming services.
According to Bloomberg's sources, Apple video-programming executives have reached out to several Hollywood studios in order to make it happen, and has already acquired a number of shows and movies, though we're yet to see what those are.
Right now, Apple TV+ has a small number of original shows, and I've been enjoying the free trial that came with my iPad, even if I too only saw the Apple TV+ exclusive Beastie Boys documentary and not much else. This new move by Apple may prove quite successful into bringing certain demographics over, especially people with nostalgia or plain interest in older Hollywood productions, regardless if they find value in the original content available on the platform or not.
Even after the generous one-year free trial that comes with buying a new Apple device, a monthly subscription to the service costs less than the likes of Netflix or Hulu, at $4.99, and once its library grows, it may become a considerably attractive option.