Apple in talks to license more Hollywood films, Bloomberg News reports

(Reuters) -Apple is in talks to license more films from Hollywood studios to boost its streaming portfolio, Bloomberg News reported on Thursday, citing people familiar with the matter.

Streaming platforms have been looking to grow their library of offerings by spending millions on licensing for movies and live sports programming to attract users in a competitive industry.

Apple's successful deal to license around 50 movies from Hollywood studios earlier this year has encouraged it to pursue more content, the report said.

The iPhone maker did not immediately respond to a Reuters request for comment.

The Apple TV+ streaming service, known for its original series like Ted Lasso, The Morning Show and Slow Horses, has so far differentiated itself in the streaming landscape with a focus on in-house content, while most rival platforms also offer users older movies and TV shows from other studios.

The strategy has garnered Apple TV+ 72 Emmy Award nominations across various categories.

Apple TV+, however, is among the streaming platforms with the highest number of customers cancelling a subscription, while Netflix has the lowest, according to market research firm Antenna.

(Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar and Devika Syamnath)