As the New Year approaches, Apple TV is increasingly becoming a part of streaming discussions.During holidays, when viewers are reconsidering their subscriptions and making streaming choices, Apple TV has managed to avoid being struck off the list. Thanks to the well-planned movie releases, the online discussion has been positive around the streamer.Thus, the question has come up again and again: Is Apple TV really getting closer to Netflix and HBO? The presence of Apple TV has indeed increased significantly, but it is difficult to discuss the streaming race without closely examining subscriber definitions, financial performance, and global reach, without mixing metrics or overstating their scale.The launch of Apple TV and the main approachApple TV+ began its journey in 2019 as a last-minute entry into a world already dominated by Netflix, while HBO had built brand recognition over the years. The company, earlier than anything else, wanted to highlight its content production by means of the originals-only strategy, thus not even considering any hassle of licensing back catalogs.Apple TV+ was thus perceived as the place where quality prevails over quantity, and its service was a carefully chosen one. That identity is still true today and is agreed to by industry reports.A deliberately smaller content libraryApple TV+ has a plan, and that is to launch a handful of series and movies per year. The tenacity of Apple’s strategy lies in controlling public visibility rather than pursuing constant output; however, it also puts the company in a position where it cannot compete with the giants in terms of the size of its content library.This smaller library focuses on launches but reduces continuous engagement between releases.Apple TV+ subscriber numbersIt is over and above the subscriber numbers where the question usually arises most. According to Variety's reporting, Apple TV+ had approximately 45 million paid subscribers worldwide by the beginning of 2025.How does that compare to Netflix and HBOWhen using similar metrics for comparison of paid subscribers:Netflix surpasses 300 million worldwide subscribersHBO / Max is estimated to have over 120 million subscribers worldwide after Q3 2025 growthApple TV+ is still much smaller in comparison.This gap confirms that Apple TV+ is not close to market leadership in scale.Financial performance and sustainabilityOn the whole, Apple TV+ remains financially unprofitable. It is said that the service loses around 1 billion dollars annually, while the main cause comes from the content spend of around 4.5 billion dollars yearly.In contrast, Netflix is a profitable company that keeps on growing by acquiring new subscribers and introducing the ad-supported tier. HBO still enjoys the privilege of wider corporate bundling and distribution networks of the past. The financial losses incurred by Apple TV+ are only bearable at the moment since they are being offset by the profits made in the larger Apple business.Visibility patterns and release-driven buzzThe engagement of the customers with Apple TV+ goes up around the times of the premieres and finales, and does not receive continuous attention. At times, the social media discussion also contributes to this trend, making the audience feel as if the service is gradually gaining momentum.But this is contrary to Netflix’s perpetual engagement cycle and HBO’s longer cultural impact for the key shows. The visibility of Apple TV+ continues to remain episodic, not ongoing.Year-end timing and perceptionReleases during the holiday season significantly contribute to the visibility of Apple TV+. Year-end timing can temporarily boost a platform’s presence, as audiences are more likely to stay home and rethink their subscriptions.The seasonal influence is responsible for a large part of the current visibility of Apple TV+, but it does not suggest that the service is going to be dominant throughout the year.Market share and global reachAccording to Evoca.tv, Apple TV+ occupies about 9% of the U.S. SVOD market, confirming its position as a minor player. Apple TV+, on the other hand, is still not even close to becoming a major player internationally as compared to Netflix’s widespread global localization and Disney+’s worldwide accessibility.Availability has been a main reason why Apple TV+ has not yet been able to reach extensive global ground.Ecosystem bundling advantageApple TV+ takes advantage of being part of the Apple ecosystem, which comprises device bundling and long trials. This makes it easier for users to access the service and enhances the number of trials taken up.Nonetheless, having access to the ecosystem does not guarantee customer loyalty, as this still depends on the frequency of new releases and the size of the library.Is Apple TV+ “Winning” the streaming race?By looking at the number of paid subscribers, revenue, global reach, or market share, Apple TV+ is definitely not winning the streaming race. Netflix and HBO are still the leading ones, far ahead across all major indicators.What Apple TV+ has managed to do is become more significant during the key release times by its wise selection of movies and series, use of the ecosystem's strength, and support of a curated strategy.Shifting industry perceptionApple TV+ is now included in industry conversations more often, next to Netflix and HBO. This indicates more legitimacy to Apple TV+ rather than equal standing.Apple TV+ can be characterized very well as a focused, secondary competitor: it is visible, strategically positioned, and not dominating.Apple TV+ is not beating Netflix or HBO on the verge of the New Year. Its subscriber count is still significantly lower, its finances are still in the red, and its market is still limited to a few countries.The perception has changed, however. Apple TV+ has made better use of time, has been more selective with its releases, and has integrated itself into the ecosystem, which has contributed to its gaining visibility. Yet, that visibility should not be mistaken for market leadership.As we enter the New Year, Apple TV+ will be viewed as a small but increasingly talked-about platform that is competitive at times but still a long way behind the giants of the industry in terms of scale and sustainability.Also read: Apple TV+ has rebranded itself to Apple TV, details revealed