Apple Inc. (NASDAQ:AAPL) Hopes To Revamp The Shrinking Media Industry With Apple TV

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Apple Inc. (NASDAQ:AAPL) Hopes To Revamp The Shrinking Media Industry With Apple TV

The media industry is currently undergoing a dramatic shift according to Apple CEO Tim Cook. There has been so much happening behind the scenes given the market domination of the likes of Amazon.com, Inc. (NASDAQ:AMZN), Netflix, Inc. (NASDAQ:NFLX), and Hulu. The dominance is one of the major concerns that Apple Inc. (NASDAQ:AAPL) has to struggle with in sustaining competition. Thus it put its acts together and perhaps something more attractive from what the other services are offering.

On that note, Cook says that the company has plans for original content and the Apple TV. It is also focusing on Apple Music. Recently Apple increased the limit of the selected size for apps on the Apple TV from 200MB to 4GB. This is one of the strategies that is expected to make the device more appealing, especially to game designers.

Cook outlines more specific plans for the future of Apple’s media plans

Apple TV has come a long way in its first year, an unfolding that Cook describes as fulfilling. He quotes, “We started the new Apple TV a year ago, we’re pleased on how that platform has come along. We have more things planned for it, but it’s come a long way in a year, and it gives us a clear platform to build off of.”

However, this has not been without a challenge given that Apple TV’s internal memory hasn’t increased beyond 64GB. That means in its current form, it may not be able to hold many of the bigger apps. Nonetheless, there are clear indications that Apple is having much more to offer.

Apple has only thus far “dipped its toe in the water” Cook reiterates

One of the strongest advantages of the Apple TV is the subscription platform. So far the company has garnered close to 150 million paid subscriptions a number of them being third-party services. Cook restates that the company has more things planned for it thus this is just the beginning. Clearly, Apple is not giving up on Apple TV, which is referred to as the future of television. Meanwhile, Apple’s stock closed at $121.35 a fall of $0.28 or 0.23%.