A Morgan Stanley analyst said this week that if Apple were to launch a full-fledged television set, it could cause total average annual household spending on Apple products in the U.S. to double to $888 by 2015.
Analyst Katy Huberty with Morgan Stanley explained in a note to investors this week that Apple’s U.S. household spending doubled following the launch of the original iPhone, from $150 per year in 2007 to $295 in 2010. She expects that the iPad will double that spending again, to an average of $635 per household, per year by 2013.
“Given a 97% TV household penetration and a 61% broadband household penetration in the US along with an expected high price (and value) point, an Apple TV is likely to generate a similar increase in average household spend, with some help from iPad and iPhone growth,” Huberty wrote.
Huberty’s projections say that the average U.S. household with at least $10,000 in disposable income would spend at least $888 in Apple products by 2015, double the average spent per year in 2011.
If Apple were to obtain a 10 percent share of global television spending, which would include hardware, subscriptions, and advertising, it would represent $60 billion a year.
The initial impact of an Apple television would likely be seen mostly in the U.S., but Huberty noted that Apple’s real growth potential will remain outside of the U.S. Ten years ago, Apple received close to 56 percent of its revenue from the U.S., but in the most recent fiscal year, that figure had fallen to 39 percent.
Last years figures show that among households with at least $10,000 disposable income, the average U.S. household spent $444 on Apple products, compared to just $113 for households outside the U.S. In order for global household spending to reach an even keel with U.S. spending, non-U.S. spending for Apple products needs to grow 36 percent annually through 2015.