Apple Plans to License More Movies to Expand Apple TV+ Library

Apple is actively negotiating with major Hollywood studios to license additional movies, aiming to enhance the content library of Apple TV+, according to Bloomberg.

Traditionally focused on original productions, Apple is now seeking to diversify its streaming service by acquiring films from the extensive catalogs of established studios, sources familiar with the matter revealed.

Since its launch in November 2019, Apple TV+ has positioned itself as a premium streaming service featuring high-quality original content. Despite receiving critical acclaim and numerous awards, including 72 Emmy nominations this year, Apple TV+ has struggled to attract a large subscriber base. Research firm MoffettNathanson reports that only 11% of U.S. households use Apple TV+, compared to 55% for Netflix. The relatively limited content library of Apple TV+ is seen as a key factor in its slower growth. Data from Antenna indicates that streaming services with larger content libraries, like Netflix, have lower cancellation rates.

In response to these challenges, Apple has started experimenting with licensing movies. Earlier this year, the company added approximately 50 movies from Hollywood studios to its U.S. catalog, including popular titles like "Mean Girls" and "Titanic." The positive reception to these additions has encouraged Apple to pursue more licensing deals. These discussions aim to secure even more titles, potentially expanding the service's offerings both domestically and internationally. Major studios like Warner Bros., Discovery, and Disney are increasingly open to selling their content to competitors to boost revenue.