Apple TV+, the tech giant's streaming service, has been making steady strides since its inception in 2019. Despite entering a market dominated by established players like Netflix, Hulu, and Amazon Prime Video, Apple TV+ has managed to carve out a niche for itself. The recent announcement of new seasons for hit shows such as Severance, Silo, and Pachinko is testament to their commitment towards providing quality content.
According to 9to5Mac, Apple TV+ experienced a growth of 1% during the first quarter of 2024. While this may not seem significant at first glance, it is indeed positive news for the company. This was followed by another increase of 1% in the subsequent financial quarter.
This consistent growth has resulted in Apple TV+ now holding a market share of 9% among streaming services. This leap forward allowed them to narrowly surpass Paramount+, securing the sixth spot in market share rankings.
Market share rankings
The current U.S. market share rankings provided by JustWatch are as follows:
- Amazon Prime Video: 22%
- Netflix: 22%
- Max: 14%
- Disney+: 11%
- Hulu: 10%
- Apple TV+: 9%
- Paramount +: 9%
A representative from JustWatch explained that there have been noticeable changes with AppleTV+. With an overall increase in market shares and several pieces original content ranking on their streaming charts throughout this quarter, they are moving closer to Disney+ in terms of size within the US SVOD (Subscription Video On Demand) market.
Implications for Major League Soccer (MLS)
The success story of AppleTV+ brings good news for Major League Soccer officials too. MLS is currently engaged with AppleTV+ through a massive ten-year deal where MLS matches are exclusively streamed on a separate Apple service called MLS Season Pass.
While Apple TV+ subscribers do get a discount on the MLS Season Pass, they are not able to watch more than a select few MLS games on the basic service. Despite this, the success of Apple TV+ could potentially open up new viewers for the league. Advertisements for MLS are frequently found across AppleTV+, and if these promotions prove effective, it could certainly benefit MLS Season Pass.
The steady growth of Apple TV+ is an encouraging sign for both the company and its partners. While it's still early days in terms of competing with giants like Netflix and Amazon Prime Video, their consistent progress indicates that they're moving in the right direction. For sports fans and sports betting enthusiasts alike, this development signals exciting times ahead as streaming services continue to evolve and expand their offerings.
