I think most of us saw this coming from a mile away. The Apple TV has not received a substantial update in a very long time, the interface looks outdated to me

I think most of us saw this coming from a mile away. The Apple TV has not received a substantial update in a very long time, the interface looks outdated to me and the size of it is also inconvenient. The price is also another factor. The Chromecast is $35 and offers everything Apple TV does for $99 (sans the remote). The Amazon Fire TV Stick is $39 and gives you a remote, yet offers more than Apple's expensive offering which is twice the size. I think unless Apple brings out a HDMI stick of their own that competes with the price of the Chromecast or Fire TV Stick, Apple TV will continue to decline until people just stop buying it. Honestly, what Apple needs to do is release a device running iOS that will allow you to play games on your TV. This would probably give it the edge it needs to compete again. But apps and games wouldn't be enough to compete, they would need to match the price or offer something Amazon and Google currently do not.