Apple in Talks to Secure Licensing Rights for More Hollywood Films
Apple is in negotiations with Hollywood studios about acquiring licencing rights for further films. The company's successful arrangement earlier this year, which secured licencing for approximately 50 films, has prompted Apple to chase further material. Apple TV+ sets itself apart by focusing on in-house programming, whereas others provide a mix of fresh and older films and TV series.
The tech giant intends to strengthen its streaming portfolio by extending its library of offerings.
Streaming providers have been furiously fighting to attract viewers, investing millions in movie and live sports licencing. Apple's successful transaction earlier this year, which secured licences for about 50 films from Hollywood studios, has prompted the company to chase further content.
While Apple TV+ has achieved attention for its original shows such as "Ted Lasso," "The Morning Show," and "Slow Horses," it distinguishes itself from competitors by focusing mainly on in-house production. Other streaming services, on the other hand, provide a combination of original and older films and television series from multiple studios.
Apple's strategy has resulted in an astonishing 72 Emmy Award nominations in various categories. However, the company has hurdles, as Apple TV+ has seen a greater percentage of membership cancellations than competitors such as Netflix, which has the lowest cancellation rate, according to market research firm Antenna.
As of now, Apple has not reacted to Reuters' request for comment on the alleged conversations with Hollywood studios. The company's streaming service has been working to grow its content inventory in order to reach a larger audience and compete in the streaming sector.
Apple is in talks with Hollywood studios to acquire licensing rights for additional films.
The company's successful deal earlier this year, securing licensing for around 50 movies, has motivated Apple to pursue more content.
Apple TV+ differentiates itself by focusing on in-house content, while competitors offer a mix of original and older movies and TV shows.
Source: REUTERS