When it comes to consumers picking which streaming platform they choose, they might consider quantity and/or quality, which is an ongoing struggle for streaming companies to carefully balance.
A new survey highlights the winners when it comes to quality.
What Happened: Streaming platform AppleTV+ from Apple Inc AAPL is one of the smallest players in the segment, but has been spending aggressively on key content and sports media rights to help boost its platform and subscriber base.
A new study from Self Financial shows that when it comes to library size, AppleTV+ is the smallest among peers Netflix Inc NFLX, Warner Bros. Discovery WBD owned Max, Paramount Global PARAPARAA owned Paramount+, The Walt Disney Company DIS owned Disney+ and Hulu, Comcast Corporation CMCSA owned Peacock, and Prime Video from Amazon.com Inc AMZN.
Prime Video leads in library size when it comes to the number of shows and movies, according to rankings on IMDb, which is owned by Amazon. Netflix comes in second in terms of the size of its content library.
When it comes to content quality, it is AppleTV+ which ranks first. The rankings are based on scores from IMDb, with a score of 8.0 or above considered excellent for the study.
AppleTV+ has the highest quality score at 7.01 out of 10, topping the list from Self Financial for a third year.
While AppleTV+ reigns supreme overall, Prime Video has the most movies ranked excellent based on the money spent monthly per subscriber. Likewise, Netflix ranks first for the highest number of shows ranked 8 or above at 837 titles, compared to second place Hulu/Disney+ at 637 titles.
Apple topped the rankings in eight genres, slightly behind Max, which held the lead in 10 genres.
Why It's Important: The new study showed that the average consumer spends $52.97 per month on streaming services.
A recent Deloitte survey found that U.S. consumers spend an average of $61 per month on subscription video on-demand (SVOD) services and aren't prepared for further rate hikes.
Benzinga recently shared that Apple spent $700 million on three potential blockbuster movies, betting on the success of "Napoleon," "Killers of the Flower Moon" and "Argylle."
The movies didn't end up having huge box office success, but two received recognition on the awards circuit.
Apple has been a regular at award shows like the Golden Globes and Emmy Awards for its television shows as well, but one of its biggest and most nominated hits "Ted Lasso" recently streamed its final season.
The survey suggests that for streamers prioritizing quality over quantity, AppleTV+ stands out as a prime choice. This emphasis on quality could position AppleTV+ as a keeper in consumers’ streaming portfolios, especially when they’re faced with decisions on which platforms to retain.
While Netflix and Amazon are likely to lead the way in content library, Apple's strategy of focusing on top hits, blockbuster movies and sports rights could end up paying off.
Image generated using artificial intelligence via Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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