Mike Peterson
Netflix co-founder Marc Randolph said that Apple TV+ has "no excuse" for its lagging behind other competitors in the streaming market.
Apple has yet to report subscriber numbers for its fledgling streaming service. However, there are indications that the company isn't seeing the same type of growth as its rivals and that it may have a "freeloader" problem.
"If Apple spent one quarter as much time on content as they do on giveaways they really could play," Randolph told Yahoo Finance in a recent interview. He noted that Apple has $200 billion cash on hand.
Apple has more than 50 films and TV shows on its Apple TV+ platform. That number pales in comparison to the massive libraries of competitors like Netflix, or even Disney+, which launched around the same time as Apple.
"They have no excuse [and] they're still not in it with both feet," Randolph said. "They really have to do the entrepreneurial thing and walk up to the edge of the cliff and jump."
The Netflix co-founder also noted that Apple TV+ has the highest churn rate of any streaming platform.
In January, Apple extended its initially yearlong free trial through July 2021. Data also suggests that the majority of users on a trial don't plan to resubscribe on the promotional period ends.
"You can't keep replacing people, you've got to give them a reason to stay," Randolph said.
Malcolm Owen
Wesley Hilliard
William Gallagher
Christine McKee
47 Comments
I’d rather they jump into gaming with both feet. More money to be made and closer to their wheelhouse.
I don't see how AppleTV+ can even compare to Netflix or Disney+. Netflix is like the Blockbuster of streaming with content from literally everywhere, and Disney has decades of movies from all of their studios. What does Apple TV+ have? A handful of movies/shows that it has purchased for tons of money? Apple would need to partner with major studios to have access to their content to compete with Netflix or Disney.
As it is, Apple like your local theatre. It has a new movie every now and then, maybe you like it, maybe you don't. Except you're paying every month whether you like the offering of the month or not.
Apple got hit by bad timing with Apple TV+. They launched it and basically had to suspend production a few months later which slowed their rollout of new content. I feel like they did the right thing by extending the trial period given they were unable to continue to deliver new content and decent clip.
Comparing them to Disney is pretty ridiculous given Disney had it's entire back catalog that covers decades.
I guess the one bright spot for Apple TV+ is when competitors start talking smack about an Apple offering it means said competitor is about to get steamrolled and is pooping their pants.