Apple has yet to disclose the official numbers of how many subscribers Apple TV+ has, but in a memo seen by Cult of Mac Wedbush analyst Dan Ives explains what he thinks:
Ives said that with an installed base of around 925 million active iPhone users worldwide, Apple has the opportunity to gain 100 million subscribers in the next three to four years. That would put Apple TV+ adoption ahead of Apple Music when judged on a year-by-year basis. Apple Music hit 40 million subscribers in April 2018. It launched in June 2015. (Apple Music, however, does not offer a free tier for Apple customers.)
Ives thinks Apple has so far built a “compelling list” of shows on the service. He also believes Apple is spending around $6 billion per year to create new content. He also mentions, but does not elaborate on, the possibility that Apple could acquire a movie studio such as MGM, Lionsgate, Sony Pictures or A24. It is not clear from his note whether this would factor into his estimated 100 million subscribers prediction.
Netflix currently has around 165 million subscribers, with a wider range of shows and overall more content, if Apple were to catch up, a dramatic increase in content will be a must.