Apple (AAPL - Free Report) recently announced Oprah’s Book Club, an exclusive series to be streamed on Apple TV+. Oprah Winfrey, popular talk show host and producer, will interview the authors of her book club picks in the show. A new episode will be available every two months.
Starting Nov 1, the first installment will feature an interview with Ta-Nehisi Coates, the author of The Water Dancer. The book is available for pre-order on Apple Books in both e-book and audiobook formats.
Oprah’s Book Club will connect readers globally on Apple Books and offer author interviews on Apple TV+. Oprah’s title picks are expected to attract viewers, which in turn could boost book sales.
Moreover, Apple will make a contribution to the American Library Association to support local libraries, and fund programs for every Oprah’s Book Club selection bought by viewers on Apple Books.
Notably, the series is part of the multi-year partnership between Apple and Oprah announced last year. Additionally, Oprah is developing two documentaries exclusively for Apple TV+ viewers. Toxic Labor is about sexual harassment in the workplace, and another series in partnership with Prince Harry, which will focus on mental health and fitness.
Apple’s Strong Content Makes It a Potent Challenger
Apple’s robust original content portfolio for Apple TV+ that includes shows of different genres like See, The Morning Show, Dickinson, For All Mankind and The Elephant Queen is a key catalyst.
Additionally, Apple’s focus on partnering with Oscar winning content makers as well as popular Hollywood stars is expected to be a game changer. The company has inked major content deals with other celebrities like Octavia Spencer, Steven Spielberg, Francis Lawrence, Damien Chazelle, M. Night Shyamalan and Kristen Wiig.
Additionally, its shows like See and The Morning Show feature the likes of Jason Momoa and Reese Witherspoon, and Jennifer Aniston, respectively. Furthermore, the feature film The Banker stars Anthony Mackie and Samuel L. Jackson.
The aforesaid factors are expected to help Apple create a place for itself in the intensely competitive streaming market. According to Grand View Research, the video streaming space is expected to be worth $124.57 billion by 2025, witnessing CAGR of 19.1% between 2018 and 2025.
Apple TV+ will be launched in more than 100 countries on Nov 1. The service will be available on the Apple TV app on iPhone, iPad, Apple TV and other platforms for $4.99 a month.
Apple’s aggressive pricing strategy is set to heat up competition in the streaming market. Established players like Netflix (NFLX - Free Report) , Amazon Prime, YouTube as well as new entrants like Disney’s (DIS - Free Report) Disney+, Comcast’s (CMCSA - Free Report) Peacock and HBO Max might find it extremely difficult to match Apple TV+’s rock-bottom pricing.
Apple currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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