A new survey by investment firm Baird revealed that a small number of consumers are interested in subscribing to an Apple streaming service. The news came amid slower iPhone sales and the tech giant's shift to other sectors aside from smartphones.
According to Barron's the survey included 1,500 American consumers who also expressed their insights on upgrading their iPhones. While 67 percent of respondents said they are planning to purchase new smartphones from Apple, a small number showed interest in streaming services.
18 percent of the surveyed consumers said they had "some interest" in subscribing to Apple's streaming service if the new service gets launched. The Cupertino-based tech firm has yet to announce the launch date of its service that could compete with other streaming giants.
Baird analyst William Power noted that Apple has a lot of space for growth despite a significant slump in iPhone sales last year. His price target of $185 for the American tech provider suggests high expectations for the company to bounce back in 2019.
Furthermore, the survey saw a majority of respondents indicating that the iPhone they were using was more than two years old. Power said this could translate to a large upgrade market that Apple should look into moving forward.
Power said the survey opened doors for other opportunities in Apple's target market. According to 9to5Mac, the analyst said "success with newer products like Apple Watch, and services like Apple Music underscores the ecosystem opportunity."
Multiple outlets reported that the service will be rolled out during a March event. No official confirmation has been made but Apple's transition from its smartphone focus to artificial intelligence and new projects could indicate the arrival of new services that consumers can look forward to.
Despite the lack of enthusiasm for Apple's rumored streaming service, some tech experts are noticing changes in the company's partnerships with other tech giants catering to the smart speaker's sector.
A couple of outlets, including Business Insider, reported that Apple Music appears to be available for use with Google's smart speakers. If the new option is official, Apple Music subscribers will have the power to control their playlists using either the Google Home or Max speaker.
The iPhone maker has yet to make an official announcement regarding its reported joint venture with Google. On the other hand, experts suggested that a partnership with smart speaker makers could boost consumer interest in succeeding projects and services that the tech firm has planned for the next couple of years.
