Apple TV+ Enters Comcast Xfinity Platform: Is iPhone Maker's Streaming Push Turning Into A Shove?

Apple TV+, a streaming application from Apple Inc AAPL, has made its way onto the Xfinity platform offered by Comcast Corporation CMCSA.

What Happened: AppleTV+ will be available on Xfinity X1, Xfinity Flex, and XClassTV platforms beginning March 7, Comcast said in a statement on Monday.

Apple will dish out free previews of the first seasons of many of its popular shows, as well as the film “Greyhound," which stars Tom Hanks

Xfinity customers who do not have an Apple TV+ subscription will receive a three-month free trial if they sign up through their device by April 25.

See Also: How To Buy Apple (AAPL) Shares

Why It Matters: Apple ramped up its marketing spend on Apple TV+ in 2021 to more than $500 million.

Last year, the Tim Cook-led company planned to budget for adding a dedicated Apple TV+ button on the remotes of devices made by other manufacturers — an arrangement similar to the one it has with Roku, Inc ROKU

Apple has not broken down Apple TV+ subscription numbers, but a showbiz union claimed the company has less than 20 million subscriptions in the U.S. and Canada as of July 1, according to a CNBC report

In contrast, rival Netflix Inc NFLX has 75.22 million paid subscribers in the U.S. and Canada and 222 million worldwide as of the last quarter. 

Walt Disney Co’s DIS Disney+ service, including Hotstar, has 118.1 million global subscribers, as reported in the previous quarter.

Price Action: On Monday, Apple shares closed nearly 2.4% lower at $159.30 in the regular session. The shares declined 0.35% in the after-hours trading.

Read Next: Gridiron Streaming Fight: Could Apple Beat Amazon To NFL Rights Carriage Deal?

Photo Courtesy: Comcast Corp

 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EntertainmentNewsTechGeneralApple TV+Comcast XfinityOnline StreamingSVODTim Cook
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...