Apple wants to challenge Disney and Netflix in the streaming wars — and is looking to live sports to do it.
The technology giant is ready to spend billions on live sports to drive subscriptions to its Apple TV+ streaming service, according to investment firm Wedbush.
The investor note lends credence to recent reports that Apple has been in talks with major sports leagues.
- Last week, the New York Post reported that Apple is in serious talks to secure a weekday game package from Major League Baseball.
- The company has reportedly shown interest in “NFL Sunday Ticket,” which could garner $2.5 billion per season in broadcast rights.
- The Premier League struck a licensing deal with Apple TV+’s hit comedy “Ted Lasso” that allows the show to use the league’s footage, logos, club kits, and trophy.
- Apple does not disclose its subscriber count, but Wedbush estimated Apple TV+ has 20 million paying subscribers, with another 25 million on free trials associated with product purchases.
Apple does not currently offer live television of any kind.
The Service Sector
Known best for its hardware, Apple has been making a broad push in its services division, which includes Apple Fitness+, Apple Arcade, Apple Music, and Apple TV+.
Apple Fitness+, launched in December 2020, expanded to 15 new countries in November. The service rolled out a new set of features on Jan. 10.
Apple’s services collectively brought in a record $18.3 billion in revenue in fiscal Q4 2021, up 25% year-over-year.
