Apple is looking to license more films from Hollywood to add to its library of streaming films

According to Bloomberg News on Thursday, which cited people familiar with the situation, Apple is in discussions to license more films from Hollywood studios in order to expand its library of streaming titles.

In order to draw consumers in a cutthroat market, streaming services have been investing millions on movie and live sports content licenses in an effort to expand their library.

According to the article, Apple is looking for new material after striking a successful agreement earlier this year to license about 50 films from Hollywood studios.

Despite the fact that most competitors’ streaming services also provide customers with older films and TV episodes from other studios, Apple’s TV+ service, which is well-known for its original shows like Ted Lasso, The Morning Show, and Slow Horses, has thus far set itself apart in the market by emphasizing its own material.

Apple TV+ received 72 Emmy Award nominations for its strategy across many categories.

According to market research firm Antenna, Netflix has the fewest consumers canceling a membership, while Apple TV+ is among the streaming services with the largest amount of subscribers doing so.