A new study has revealed that fewer than 10% of those Apple customers that qualified for a free year of Apple TV+ (by purchasing a new Apple device in November/December/January) have actually signed up for the service.
The study hails from Bernstein Research analyst Toni Sacconaghi who arrived at the number after researching Apple’s Q4 financial results and commentary.
Why so few accepted the free service, the promotion ended last Friday, isn’t clear. Sacconaghi has three potential explanations: Apple is underestimating its take rate, users were just unaware that the promotion existed, and/or customers simply weren’t interested in the service’s rather anaemic launch line-up.
Apple TV+ launched in November with a handful of shows that all received mixed or soft reviews, the company having yet to release a ‘killer app’ that would get people to sign up.