Apple’s iTunes Movies market share is falling, thanks to rising competition from online video retailers like Amazon and Comcast.
In an article shared by the Wall Street Journal, Apple’s share for renting and buying video content has dropped to 20 to 35 percent, down from the 50 percent market share it held in 2012.
“Apple has promoted independent films and signed deals for exclusive rights some content produced outside the major studio system, making it a stronger competitor in that space,” said WSJ.
In a response to the news, Apple said that it was working with providers such as Netflix and HBO through its App Store.
According to the Wall Street Journal, the video market is continuing to grow, with digital rentals and sales rising 12 percent to 15.3 billion last year.
With Apple bringing original video content to its Apple Music subscription service, perhaps the Cupertino giant has a Netflix rival up its sleeves?