Apple TV+ buys older shows, stepping up competition with Netflix: Report

Apple is reportedly buying older content for its streaming service, Apple TV+, in an effort to step up its competition with Netflix, Hulu, Disney+ and others, according to Bloomberg.

The tech giant initially has only released Apple original TV shows and movies since it launched, but the streaming service is reportedly in talks with Hollywood executives about licensing older content, Bloomberg reported.

Apple did not immediately respond to an inquiry from FOX Business regarding the move and what older shows it would be offering. A post on the tech giant's Instagram page shows older movie options from the American Film Institute (AFI) available on the Apple TV+ app.

Apple CEO Tim Cook said older content is not what TV‌+ is about" in February when asked why it didn't buy the rights to "Friends," which recently went from Netflix to Hulu, according to Apple-related news website ‌‌MacRumors. Cook said the service is "about original programming," and "it doesn't feel right for Apple to just go out and take a rerun."

STREAMING SERVICES BY THE NUMBERS

Netflix, Hulu, Amazon Prime and HBO have a range of older and original content; all three services have been increasing their annual spending on original content every year.

Apple TV+, which launched in November 2019, has spent about as much as Amazon Prime Video did in 2019 at $6 billion, according to the Observer.

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The service, however, only has 27 original TV shows and movies as of Friday, according to Apple news website 9to5Mac.com, but the outlet said to expect content to expand quickly.

Apple TV+'s 33 million users is more than Hulu's, but the majority of those subscribers aren't paying for the service, which offered a free, year-long subscription for users who signed up immediately after its launch, according to Variety.

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