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Apple (AAPL) Reportedly Discussing Streaming Deal with MLB

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Apple (AAPL - Free Report) is reportedly looking to stream Major League Baseball (“MLB”) games through its Apple TV+ streaming service.

Per a New York Post article, the iPhone-maker is in serious discussions to stream weekday national games that were previously broadcasted by The Walt Disney’s (DIS - Free Report) ESPN.

ESPN recently gave up the rights to broadcast Monday and Wednesday games, which were not exclusive in local markets.

An Apple-MLB deal will mark Apple’s entry into the lucrative live sports market currently dominated by the likes of Disney through ESPN, Fox Sports, NBC and CBS. Streaming service providers like Apple and Amazon (AMZN - Free Report) are new entrants in this market space.
 

Apple Inc. Price and Consensus

Apple Inc. Price and Consensus

Apple Inc. price-consensus-chart | Apple Inc. Quote

 

Amazon is well ahead of Apple thanks to its deal with the National Football League (NFL) that makes its streaming service Prime Video the exclusive broadcaster of Thursday Night Football, beginning with the 2022 season.

MLB Deal to Boost Apple TV+’s Appeal

Apple has been looking to obtain live sports rights and has been rumored to discuss media rights for Pac-12 college sporting events for 2024, per 9TO5Mac report.

The MLB deal will undoubtedly expand Apple TV+’s content portfolio. The service is struggling to gain footprint amid stiff competition in streaming space currently dominated by Netflix (NFLX - Free Report) .

Apple TV+ has been lagging due to the lack of a large library of children and family-focused shows. Although Apple’s animated kids’ film, Wolfwalkers, received nominations at the Golden Globes and BAFTA, it didn’t help much in improving Apple TV+’s competitive position against Netflix, YouTube and Disney+.

Apple is now focusing on improving the content of Apple TV+, and the likely MLB deal will help it significantly. Apple has also shown an intent of expanding its footprint in the kid and family genre. The company has inked a multi-year partnership with Skydance Animation. Apple has also signed Nobel laureate Malala Yousafzai for a number of projects, including a kid-oriented show.

Apple TV+ is part of Apple’s Services business that has evolved as a major revenue contributor over the past couple of years. In fourth-quarter fiscal 2021, Services revenues grew 25.6% year over year and accounted for 21.9% of its total revenues.

Zacks Rank & Share Price Movement

Apple currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Apple has outperformed the broader Computer & Technology sector in the past year. While shares returned 33.5% the sector grew 16.6%.

The Zacks Consensus Estimate is pegged at $5.82 per share, up 0.9% over the past 60 days. Revenues stand at $385.33 billion, indicating 5.3% growth from the figure reported in fiscal 2021.


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