Apple Inc. (AAPL) has been in talks about licensing older TV and movie content as it looks to bulk up its Apple TV+ library, according to a Bloomberg News story ( ). The report, which cites multiple anonymous sources, said that Apple has also acquired some shows and movies, though it "hasn't yet acquired any huge franchises or blockbusters for its back catalog." The move comes as the company is trying to compete with Netflix Inc. (NFLX), Walt Disney Co.'s (DIS) Disney+, and other streaming rivals that have sizable arsenals of older content in addition to new original programming. Apple launched its TV+ service in November and charges $4.99 a month for the service, though it has been offering a year of the service for free to customers who purchase Apple hardware devices like iPhones, Macs, and iPads. The company didn't immediate respond to MarketWatch's request for comment. Apple shares are up 0.9% in Tuesday trading. They've lost 2.3% over the past three months as the Dow Jones Industrial Average , of which Apple is a component, has shed 16%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 19, 2020 13:45 ET (17:45 GMT)
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