Wedbush, an analyst firm evaluating the predicted performance of Apple’s upcoming new streaming service, said that Apple could gain 100 million subscribers worldwide within three or four years purely based on the fact that approximately 900 million iPhones are currently active on a global scale.
Furthermore, the firm has also predicted that Apple TV+ has the potential to ‘disrupt’ Netflix’s target consumer base within a year to 18 months.
Netflix currently has over 150 million paid streaming memberships worldwide, expecting to add 7 million net adds in its looming third quarter earnings results. Meanwhile, Apple TV+ will cost just $4.99 per month and those who purchase new iPhones, iPads or Apple TVs will be entitled to a 12 month free trial of the service.
Wedbush raised the target on Apple to $265 from $245, which indicates predictions of a 15% upside. Overall, Seeking Alpha reports that shares of Apple are up 1.2% premarket this week.
Apple TV+ will launch with several original shows such as See, Dickinson and The Morning Show. Unlike competitors such as Disney+, who will launch with a vast library of pre-existing content, Apple has not mentioned any licensed titles which will be added to the services.
The new streaming service will require the Apple TV app, which is now available on an increasing number of devices ahead of the launch. Furthermore, Apple has also announced that the TV app will be available on Amazon Fire and Roku devices soon.
To read more about Apple TV+, click here.