Apple, Pac-12 Discuss Apple TV+ Partnership

Apple is looking to boost its streaming service through high profile partnerships with a movie studio and the Pac-12, according to a media report.
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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.

Apple has been in contact with MGM Holdings and the Pac-12 Conference as the company aims to add content to its fledgling streaming network, the Wall Street Journal reported

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.

Competitor Disney  (DIS) - Get Report has seen success with the recent launch of its Disney+ service. The company’s last update said that the service had 10 million subscribers. 

Meanwhile, Netflix  (NFLX) - Get Report is still the king of the streaming mountain with more than 150 million subscribers worldwide.

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.