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Apple is offering a chance to try out AppleTV+ for free this weekend. That could help introduce people who would usually subscribe to other platforms to the streamer, which is still lagging in viewers versus competitors like Netflix.
The streaming platform will waive its $9.99 monthly fee for Apple users starting January 3 through January 5.
AppleTV+ has become known for its original productions, such as "Ted Lasso," "The Morning Show," and "Shrinking." However, it's costing them. For example, according to Bloomberg, Apple spent $20 million per episode on the new season of "Severance," which will premiere on January 17.
However, the tech giant is reportedly cutting back on spending after investing heavily in AppleTV+ since it launched the platform in 2019. It's spent $20 billion to produce original shows over the years, Bloomberg reported.
Now, it's giving Apple users an opportunity to test out the platform and potentially sign up for a paid subscription. The company's revenue for AppleTV+ is folded into its "services" earnings on quarterly and annual reports.
Apple lauded its services department for reaching an all-time high of $24 billion for its fiscal 2024 fourth quarter. While its subscription services, like AppleTV+ and Apple Music, may come to mind, they're not the main driver of services revenue.
A long-standing deal with Google to be the default search engine on iPhones and in-app purchases are the largest contributors to its services earnings.
Attracting more customers to AppleTV+ could help its services grow as Apple does some soul-searching to find its next big thing outside the iPhone.
A free weekend to binge season one of "Severance" has the potential to bring customers back to watch season two when it releases. However, according to Bloomberg earlier this year, AppleTV+ was attracting just 0.2% of TV viewing in the US. Whether a weekend of free content will help majorly move the dial is yet to be seen.
