Tue, 26 May 2020

Apple making big push into TV, movies, Tim Cook reveals

By Sheetal Sukhija, Connecticut State News.Net
16 May 2018, 03:17 GMT+10

CALIFORNIA, U.S. - In a recent interview, Apple CEO Tim Cook divulged data on the growth in subscriber numbers recorded by Apple Music.

Cook said in an interview with Bloomberg Television, that Apple Music currently boasts of 50 million users, a month after Apple revealed that it had 40 million paid subscribers.

Cook also spoke about paid versus trial Apple Music subscribers and said that in total, the service has more than 50 million users between paid members and trials. 

Experts analyzing that data said that Apple's growth numbers show that the company appears to be posting about 4 million conversions a month to a paid subscription above and beyond any makeup for cancellations. 

According to experts, this number has been consistent since at least January and said that this suggests that Apple will have about 60 million paid subscribers before the holiday season, three years after launch.

In comparison, Apple Music's main competitor Spotify said earlier this month that it has 75 million premium subscribers.

While the company said that that number met its own targets, the numbers recorded disappointed Wall Street. 

Analysts pointed out that if Spotify maintains a consistent growth of subscribers, it will have about 90 million paid subscribers by the start of the holiday season.

Meanwhile, in his interview, Cook also confirmed Apple's big push into TV and movies.

For close to a year now, Apple's push into content has been discussed widely. 

However, Cook directly addressed the company's priorities in this aspect for the first time and said, "We are very interested in the content business. We will be playing in a way that is consistent with our brand. We're not ready to give any details on it yet. But it's clearly an area of interest."

In 2017, reports confirmed that Apple was investing approximately $1 billion into original video programming.

However, reports then also pointed out that Apple will easily extend the budget past that figure.

Recently, Apple is said to have outspent Facebook and YouTube's own original content efforts, as well as traditional TV studios.

Further, the tech giant has also managed to defeat its main competitor Netflix, in some bidding wars. 

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