When you need a router, Apple TV can’t beat it
Posted On July 19, 2021
Apple TV (NASDAQ: AAPL) is the top-selling TV in the U.S. and Canada, with more than a million devices.
But when it comes to video, Apple’s top-seller is no longer the Apple TV or its own Apple TV Stick.
In a recent earnings call, Apple said its cable subscribers had fallen off a cliff, with only a quarter of cable subscribers using the AppleTVs.
“This is going to be a really tough time,” Apple CEO Tim Cook said.
Apple, which has been a pioneer in streaming video, said it had reduced the number of devices it sells by about 30 percent.
And when it did sell the Apple2, it had a lower price tag than the $300 Apple TV.
Cook said the company had increased its spending on television by about $300 million, but it wasn’t clear how much more.
While Apple TV is the best-selling video streaming device in the country, the company’s cable subscribers are falling off a similar cliff.
Last year, the median price for a typical cable TV service was $59.90 a month, according to a study by Bernstein Research.
The average cost of an Apple TV service last year was $120, according the Bernstein study.
This story was updated at 11:06 a.m. ET.