Apple (AAPL) - Get Report is looking to beef up its Apple TV+ offerings through partnerships with a major movie studio and the Pac-12 sports conference, as it competes in the streaming wars, a media report says.
Those conversations are still in the preliminary stages, according to the Journal, but the company is making a definite push in streaming content.
A spokesman for the Pac-12 did not respond to TheStreet’s request for comment.
Services are the next big frontier for Apple as the company diversifies its iPhone-centric business model. Services revenue increased 17% in the just concluded fiscal year to $46.29 billion.
Analysts at Cowen estimated that Apple TV+ could have as many as 9 million subscribers by the end of 2019, with that number doubling to 18 million by the end of 2020.
Apple TV+ launched with nine new original series on Nov. 1 and the company has announced at least 34 original series and five original movies that will be rolled out in the coming months.
While that slate is a start for the company, it has work to do to reach Netflix’s vast offerings of original content and the decades-old Disney+ library of hit movies and nostalgic audience favorites.