Apple (AAPL) has announced that Apple TV+ subscribers in the US can now access a bundle of CBS All Access and Showtime for $9.99 per month after a seven-day free trial.
By subscribing through Apple TV channels, customers can watch content from all three services online and offline, ad-free and on demand, via the Apple TV app. And through Family Sharing, up to six family members can share the subscriptions to these three services at the same time.
“Apple TV+ gives you access to award-winning Apple Originals, with more high quality series and movies being added each month,” said Eddy Cue, Apple’s senior VP of Internet Software and Services. “This bundle is a big bonus for Apple TV+ subscribers, giving them the best of CBS and Showtime on the Apple TV app at a great value.”
CBS All Access includes ad-free, on-demand television series, movies, and children’s programming, including exclusive original series like “Star Trek: Lower Decks,” “The Good Fight,” and “The Twilight Zone.” It also includes the live feed of a subscriber’s local CBS station, including major sporting events like “NFL on CBS.”
Meanwhile Showtime features popular original series such as “Billions,” “The Chi,” “Black Monday,” “Homeland” and “Shameless.”
According to Apple, its Apple TV app will launch on Sony and VIZIO smart TVs later this summer. The iPhone maker also adds that customers who purchase a new iPhone, iPad, Apple TV, Mac, or iPod touch can currently receive one free year of Apple TV+. The service usually costs $4.99 per month. (See AAPL stock analysis on TipRanks)
Shares in Apple have enjoyed an incredible rally recently and are now up 56% year-to-date. As a result, the stock scores a cautiously optimistic Moderate Buy analyst consensus while the average analyst price target indicates 5% downside potential from current levels.
Bernstein analyst Toni Sacconaghi has just reiterated a hold rating on AAPL with a $400 price target (13% downside potential). He believes that Apple can achieve double digit services growth over the next 2-3 years, writing:
“While we see many of Apple’s existing businesses (e.g. App Store, iCloud, and Apple Music) decelerating to high single digit growth as incremental penetration/increased ARPU (average revenue per user) becomes more challenging, we believe there is significant runway (to $7-12B in annual revenues) from Apple’s new services, which could be 300 – 600 bps accretive to the topline per annum… although execution is imperative.”
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