5 things you need to know in SA business today and why Apple picked a bad name for its new TV streaming service
1. Public Enterprises Minister Pravin Gordhan and Eskom chairman Jabu Mabuza yesterday briefed the media on the state of SA’s electricity supply. Gordhan said that load shedding should hopefully be avoided at least until end-August– and if it did become necessary, it would only be implemented at Stage 1.
2. Iqbal Survé, the chairperson of Independent Media and the head of Sekunjalo, concluded his testimony before the commission of inquiry into the Public Investment Corporation yesterday. Companies linked to Survé have received about R5.35bn in funding from the PIC. In his testimony, he compared his companies to Uber and Amazon, and said that if one of them listed in New York, it could have had a market capitalisation of $10bn. Survé admitted that his groups weren’t in a position to pay back the PIC’s loans, but that they had been paying interest to a Chinese creditor.
3. Alexandra was under lockdown yesterday, and the N3 northbound came to a complete standstill, as people demanded basic services from the DA-led municipality.
4. Tanzanian authorities charged the managing director of Vodacom Tanzania and other telecom executives with running a "criminal racket", Reuters reported. The case will be heard later this month. Vodacom is the largest telecom group in Tanzania, with almost a third of the country's subscribers. MD Hisham Hendi, an Egyptian national, was appointed last month, after the Tanzanian government denied a work permit to the company’s first choice for chief executive, a Kenyan, Reuters reported.
5. Former Nissan chief Carlos Ghosn has just been re-arrested in Tokyo after spending 108 days in custody. He was out on bail. According to the BBC, new allegations against him involving payments to a dealership in Oman have emerged.
Why Apple picked a bad name for its new TV streaming service
Reported by Dave Smith
Apple's new streaming service is called Apple TV Plus.
It's a bad name.
Why is that? Well, here's the description for Apple TV Plus, straight from Apple's website (emphasis added):
"Introducing Apple TV+, a new streaming service where the most creative minds in TV and film tell the kinds of stories only they can. Featuring original shows and movies across every genre, exclusively on the Apple TV app."
The name Apple TV Plus simply doesn't address that this service could also be a place for movies, or even other types of multimedia, such as documentaries or video podcasts.
It's odd that Apple would choose a name that makes it sound like the service is about only TV, especially since Apple made a big deal over how you can watch these shows on any Apple device you own.
The name Apple TV Plus is also confusing in general. Apple already sells something called Apple TV, which is a streaming set-top box sold in stores and online. People could very easily assume Apple TV Plus is simply upgraded hardware, or they might think they need a physical Apple TV in order to watch these new shows - a reasonable conclusion, based on the name - when that's not the case.
Names matter: All words have a psychological effect, and people subconsciously correlate names with ideas. Apple whiffed big time with the name Apple TV Plus, and changing the name at this point would make Apple look incompetent. Apple picked the name, and it now has to live with it.
Apple should have given this service a name that actually encapsulates what it is: a place to watch original movies, shows, and other types of multimedia that are at least partially produced by Apple. It could have been called Apple Originals, Apple Premium, or even Apple Prime, if it wanted to get cheeky with its newfound media-streaming rival, Amazon. But the name Apple TV Plus feels confusing, short-sighted, and singularly focused on TV shows, when it's supposed to be more than that.
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