Wedbush analyst Daniel Ives believes the CODA’s Best Picture Oscar alone could add another 10 million customers to the base of paid Apple TV+ subscribers.
Megan Cerullo for CBS News:
Earning the top honor at the awards ceremony boosts the profile of Apple TV+ and could help propel the service closer to the front of the movie and TV streaming race, one analyst said…
Dan Ives, a Wedbush Securities technology analyst, on Sunday wrote in a research note that a Best Picture win for “CODA” “would catalyze more A+ talent coming to Apple first.” It could also propel the streamer’s “content efforts by multiples over the coming years with a major paid subscriber boost,” Ives said.
Ives told CBS MoneyWatch he thinks that the big win for Apple, which has roughly 25 million paid subscribers, “is sign of credibility that will send huge shockwaves within traditional Hollywood circles and stalwarts like Netflix and Amazon, that watched the moment unfold on TV instead of sitting on the podium.”
Ives added that Apple’s strategy, which has been to prioritize the quality of its content over quantity, paid off big time. “For them to hit a grand slam with such a groundbreaking film will attract more talent to its ecosystem,” Ives said. “It will be a major catalyst for subscriber growth, too.”
Ives believes the win alone could add another 10 million customers to Apple’s base of paid subscribers.