Taking pitches from Hollywood studios and licensing content.
From Bloomberg’s “Apple Buys Older Shows for TV+, Stepping Up Netflix Challenge,” posted Tuesday morning:
Apple is acquiring older movies and shows for its TV+ streaming service, aiming to build a back catalog of content that can better stack up against the huge libraries available on Netflix, Hulu and Disney+.
The company’s video-programming executives have taken pitches from Hollywood studios about licensing older content for TV+ and have bought some shows and movies, according to people familiar with the matter.
The move represents a subtle strategy shift for Apple TV+, which launched in November with a lineup of original programs. The company plans to keep TV+ focused on original shows, and hasn’t yet acquired any huge franchises or blockbusters for its back catalog, according to the people, who asked not to be identified because the deliberations are private.
Still, it’s an acknowledgment that successful streaming services typically have a mix of old and new shows. That’s been the formula for Netflix Inc., Disney’s Hulu and Disney+, and Amazon.com Inc.’s Prime Video.
My take: I don’t get it. Doesn’t Apple TV+ already offers a mix of original content and older shows?