Apple TV+ boasts a collection of top-tier shows in the streaming industry; however, its limited content library and recent price hike make subscribing a more complex decision compared to rival platforms.
According to The Wall Street Journal, Apple is currently engaged in preliminary discussions with Paramount to potentially offer a bundled discount for their streaming services. This prospective collaboration could result in a reduced cost for consumers who opt for a combined subscription of Apple TV+ and Paramount+.
Erin McPherson, the Senior Vice President and Chief Content Officer at Verizon Communication, notes that the trend of reconfiguring streaming services through bundling is progressing faster than anticipated, indicating that bundled offerings are becoming a fixture in the industry.
A perfect example is Netflix and Max bundling with Verizon and Disney’s combined package of Disney+, Hulu, and ESPN+. While these packages may come at a higher price point, they provide users with a more extensive range of content under a single subscription, contributing to the perceived value of these services.
Apple already has the Apple One bundle, an attractive proposition for dedicated Apple users which includes Music, TV+, Arcade, iCloud, Fitness+, and News+. However, for those less entrenched in the Apple ecosystem or who prefer alternative services like Spotify or Google Drive, the value proposition may not be as compelling—especially for Apple TV+ as a standalone service.
Antenna data from The Wall Street Journal indicates that Apple TV+ and Paramount+ experienced a customer-defection rate exceeding 7% in October, surpassing the industry average of 5.7%. This is particularly worrisome given that these services already have fewer subscribers.
The question arises: Can the potential Apple TV+ and Paramount+ bundle reverse this trend? While a bundle may not be a panacea for the challenges faced by Apple TV+ and Paramount+, it could attract new subscribers seeking more content at a lower cost.
Bringing it down to Africa, Nigeria to be precise. The streaming industry is distinctly shaped by the prevalence of DSTV and GoTv, which are favored by a majority of users since they offer a range of channels and content packages. While some individuals in the country do subscribe to platforms like Netflix and others alike — assuming they own a smart TV, the broader market leans towards the accessibility and familiarity of DSTV and GoTv.
Despite this, it seems the era of streaming and bundling is here to stay. But for Apple, Netflix, and other popular streaming service providers to lead the entertainment industry worldwide, they’ve got to do better — offer a compelling deal at an affordable price, possibly more enticing than what DSTV or GoTv offer, especially in Nigeria.