Apple AAPL recently added esteemed director Martin Scorsese’s latest movie — Killers of the Flower Moon — to its streaming service, Apple TV+. The movie, based on the book of the same name by David Grann, stars Leonardo DiCaprio, Robert DeNiro and Lily Gladstone in key roles.
The Martin Scorsese directorial was the first Apple Original Films release to have a wider theatrical run, amassing roughly $150 million in global box office sales. Killers of the Flower Moon has garnered glowing reviews from critics and is considered a top contender for a best picture nomination at this year’s Academy Awards.
Robust Content Aids Apple TV+’s Prospects
Apple has been honing its focus on top-notch content for its streaming service amidst growing rivalry from industry giants such as Netflix, Disney, and Amazon.
According to a report from Deadline cited by 9TO5 Mac, consumption of Apple TV+ doubled in 2023. Overall viewership surged by 42% year over year.
Titles like The Family Plan, The Morning Show, Lessons in Chemistry, and the critically acclaimed Killers of the Flower Moon have been instrumental in driving viewership.
Mark Wahlberg-starrer The Family Plan, which premiered on Dec 15, became the most-viewed movie ever for the service since its launch. The latest season of The Morning Show witnessed a 20% increase in viewership over the second season.
Apple TV+ Market Dynamics
However, despite the impressive content portfolio, Apple TV+ has not significantly increased its market share. According to 9TO5Mac, which cited a JustWatch report, Amazon Prime Video maintains the top spot with a 22% share, followed closely by Netflix at 21%. Other major contenders such as Max, Disney+, and Hulu hold 15%, 12%, and 11% market share, respectively. Apple TV+’s market share increased marginally from 6% to 7%.
Over the past year, Apple shares have outperformed Disney but lagged behind both Amazon and Netflix. While Apple has returned 38%, Amazon and Netflix have gained 57.6% and 47.9%, respectively. Disney shares have dropped 9.1%.
Despite this, Apple currently boasts a Zacks Rank #1 (Strong Buy).