Netflix shareholders will be squirming in their seat this week, as reports suggest Apple will unveil its new streaming service as soon as March 25.
Bloomberg reports that Apple will be holding an event in March to reveal both its Netflix-rivalling streaming service, as well as a news subscription that could bundle major publications into one package.
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The new streaming service is said to work just like Netflix and Amazon Prime Video, with Apple acquiring the rights for third-party content as well as producing its own original films and TV shows, so users can access everything in one centralised location.
Apple is rumoured to have invested $2 billion on original content, snapping up the likes of Oprah Winfrey and J.J. Abrams for various projects. As well as offering content via a subscription, Apple will also apparently offer free content, with the likes of ‘Carpool Karaoke’ and ‘Planet of the Apps’ already available without charge.
It’s expected that the streaming service will be available via Apple’s TV app, and so will be accessible on iPhones, iPads, and Apple TVs. Wall Street also speculates the streaming setup will emulate Amazon Prime’s model, and will be offered as a bundle with the likes of Apple Music and additional services.
Subscribers will also be able to pay for access to other services via the streaming app too, with Starz touted as one of many. Netflix and HBO fans shouldn’t get too excited though, with CNBC reporting both will unlikely strike a deal with Apple.
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Apple’s growing focus on digital services is said to be the result of underwhelming sales of recent iPhones and the growing revenue of Apple Music.
Besides a potential summer launch, further information is scarce right now, so there’s no extra detail on subscription prices or partnerships.
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