Netflixgets teased a lot for having a lot of content, but “nothing to watch”. And some of its originals are panned for, well, not being that great. That isn’t to say Netflix hasn’t had some successes — it definitely has. And the streaming service dominates the space right now. So of course Apple should have purchased it years ago.
Right? Well, that’s according to Dan Ives, an analyst for Wedbush Securities. He recently spoke withYahoo Financeand detailed how Apple’s decisions over the yearsnotto buy Netflix has culminated into the “biggest mistake” so far for Apple. He argues that, despite the push forApple TV+, it’s still not a major player when compared to Netflix, orDisney+, orAmazon.
Per the interview:
The biggest strategic mistake, in my opinion, from Jobs and Cook over the last 10 to 12 years, is not acquiring Netflix a number of years ago,” Ives told Yahoo Finance Live, referring to the deceased founder and former CEO, Steve Jobs, and the current CEO, Tim Cook.
Which, of course, comes down to the content. According to Ives, if Apple doesn’t want to try and acquire Netflix (whether or not that’s even an option), it could still buy a studio. Apple’s working with studios to bring content to Apple TV+ already, but those deals aren’t acquisitions. So even though Apple is working with A24 and, just recently landed a major partnership with Skydance Animation, Ives believes buying a studio would be better.
It could build up content that way. Ives suggests Apple could take a shot at acquiring MGM or A24. If it doesn’t, though, the analyst says Apple will continue to “be on the outside looking in”, as far as competition goes in the streaming market.
For what it’s worth, Cook has said in the past that he believes there is plenty of space in this particular market, and that multiple companies can help fill it. It doesn’t have to be a “one company over them all” deal. Apple wants to focus on stories about people, and, so far, it has managed to keep to that mandate with series likeTed Lasso,For All Mankind,The Morning Showand films likePalmer. That trend will surely continue with what’s coming down the pike.
But, whileTed Lassohas certainly stirred the pot and garnered plenty of attention from fans, it hasn’tquitereached the same cultural impact as things likeGame of Thronesfrom HBO,The Queen’s Gambitfrom Netflix, orThe Mandalorianfrom Disney+. One could make the argument that not as many people are watching Apple TV+ as those other shows on those other networks, and that would probably be spot on.
It’s starting to feel like folks are picking on Apple TV+ at this point, right? Just recently Netflix’s former CEO said that he doesn’t believe Apple is “trying hard enough” to get content on Apple TV+ (despite the fact the company is spending a ridiculous amount of money to secure film and talent to do just that).
But, what do you think? Is Apple not buying Netflix one of the company’s biggest mistakes to date? Or does Apple TV+ justneed some time to grow?
