The global market share of Apple TV+ shrinks

Back in 2019, Apple introduced the Apple TV+. Since then, the service is slowly grabbing users. in contrast to Apple TV+ and other small-scale streaming services, Netflix is losing subscribers. Besides this, some fresh research by JustWatch indicates the low percentage of Apple TV+’s market share. The report indicates how badly the market share of Apple TV+ has shrunk in 2022. The platform has been stricken by its contender Paramount+.

Apple TV+ loses market share to other streaming platforms

The recent research was identified by folks at 9to5Mac. It shows that in March the number of subscribers of Apple TV+ was quite high. It was the time when Apple streamed its original shows i.e., WeCrashed and Pachinko. Sadly, in the next few months, the platform was overtaken by Paramount+. At the end of the previous year, it was reported to have a global market share of around 7%.

As CBS and Viacom merged in 2019, Paramount+ underwent a rebranding. It was originally known as CBS All Access. It includes content from Nickelodeon, Comedy Central, Paramount Pictures, MTV, and other sources. On the other side, Apple TV+ only offers its own original programs, films, and documentaries.

According to a previous JustWatch study based on data from August 2022, Apple TV+’s global market share has decreased from 6% to 5%. The same report indicated that HBO Max had a 7% market share, while the platform now holds a 9% share. Even while it continues to lose customers to competing platforms, Netflix is still in the lead. The market share of some other well-known streaming services is 23% for Netflix, 20% for Amazon Prime Video, 18% for Disney+, and only 9% for HBO Max. Apple has a 5% global market share. While the rest of the 21% is shared by other streaming services.