Offers massive potential.

Apple’s new streaming TV service set to be known as Apple TV+ is debuting later this year into a crowded, and growing, streaming TV market in Australia that offers huge potential.

The launch is set to add even more competition to the streaming TV market that has grown enormously here over the past five years, according to Roy Morgan CEO, Michele Levine.

“The increasingly competitive streaming TV market is about to get even more cut-throat with the impending entry of the world’s first trillion dollar company to the market. Apple TV+ will be able to draw upon Apple’s immense war chest of over $A340 billion to create content which Apple announced as ‘cash on hand’ at the end of 2018.

“There is already a large audience of over 17 million Australians, or 83.4% of Australians aged 14+, that Apple can target who already access streaming TV services or use Apple devices and apps capable of accessing streaming TV services.”

Roy Morgan has closely followed the success of Netflix capturing a market of over 11 million Australians after launching just over four years ago in March 2015 and in recent years competition in the streaming TV market has increased with streaming services offered by Stan, YouTube Premium and Amazon Prime Video launching and being adopted by millions of Australians, Levine said.

“To really make a success of the new Apple TV+ streaming TV service in Australia Apple will need to understand the unique dynamics and preferences that drive Australian TV audiences to choose their favourite content,” she said.

Analysing Roy Morgan’s in-depth media data for Australian users of streaming TV services and Apple devices show that it is news which is the most widely watched genre, well clear of second placed Reality TV seen by 39%. Other popular TV genres include current affairs shows (32%), sport (31%), dramas (30%) and quiz/ game shows (30%).

The biggest potential for Apple TV+ is with the 4.6 million Millennials who use streaming services or use an Apple device capable of streaming. This is closely followed by the over 4 million members of Gen Z and just under 4 million members of Gen X who use streaming services or use an Apple device capable of streaming.