What you need to know
- A recent survey found most current Netflix subscribers don't intend on leaving the service for Apple TV+.
- Those who did say they'd subscribe to Apple TV+ said they'd keep their Netflix subscription.
- Apple TV+ will launch on November 1.
In less than a month, Apple TV+ will launch with a strong lineup of original content and a monthly price of $5. But that's apparently not enough to convince most Netflix subscribers to give Apple's new service a shot.
According to a Piper Jaffray survey of about 1,500 people (via CNBC), only 25% of Netflix subscribers plan to ditch the service to sign up for Apple TV+ or Disney+. Both Apple's and Disney's new services will launch in November, with Apple's service being the most affordable of the three — but also the thinnest on content.
Apple CEO Tim Cook recently admitted the competition won't be afraid of Apple TV+
Many of those who do intend to subscribe to Apple TV+ or Disney+ also plan to keep their Netflix subscription. It would seem years of investing in original content is paying off with costumer loyalty.
Apple TV+ and Disney+ aren't the only new services set to launch in the immediate future. WarnerMedia is gearing up to launch HBO Max while NBCUniversal readying a streaming service, too.
"Most existing Netlix subscribers appear to be trending towards multiple streaming video subscriptions, especially as many continue to reduce their spend on traditional TV offerings," said Piper Jaffray analyst Michael Olson.
Olson's comments are in line with what Apple CEO Tim Cook said in a recent interview.
"I do not think the competition is afraid of us, the video sector works differently: It's not about whether Netflix wins and we lose, or if we win and they lose," Cook said. "Many people use multiple services, and we are not trying to become on of them."
Apple TV+ is set to launch on November 1 with a price of $5 per month.