Apple Inc. (NASDAQ:AAPL) To Venture Into Netflix, Inc. (NASDAQ:NFLX) and Amazon.com, Inc. (NASDAQ:AMZN)’s Territory
Apple Inc. (NASDAQ:AAPL) might be planning on creating its own TV content to support its dedicated video service. The company has been having a rough time trying to get content providers for the service.
The company is now looking to venture into a territory occupied by giants such as Netflix, Inc. (NASDAQ:NFLX).
Apple is planning to venture deep into the video streaming with the launch of a new service. Reports indicate that the company has been in talks with TV firms to launch a service that will compete with Netflix and Prime Video from Amazon.com, Inc. (NASDAQ:AMZN). Sources also claim that Apple is planning to create original content just like its competitors. Apple’s CEO, Tim Cook, is expected to reveal further details during the launch of the iPhone 7 this year.
The launch of a content streaming service will be a great addition to complement the company’s devices such as the Apple TV set-top box. The company believes that the launch of the new video streaming service would be a significant financial move for the company. Netflix and Amazon have been highly successful in the video streaming industry, and Apple wants to get a piece of the action. It might be the next opportunity for the firm to boost its revenues.
The company already has a head start thanks to iTunes, which already has a significant following. Apple can leverage the same subscribers to boost the new video streaming service while at the same time using the original content to pull in new customers. The project, therefore, has tremendous potential for success. However, it might not be as easy as it seems considering the competition already has a stable foundation.
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During Apple’s recent earnings reports, the company announced a good performance for the last quarter of the 2015 financial year. However, investors are disappointed because the firm lowered its Street estimates for the current quarter. This resulted in a 3% drop in the value of its shares. This also marks a 28% decrease from the record high just nine months ago.