Apple has been developing a video streaming service that could rival Netflix, but not much is known about its release date. Citing three unnamed sources, The Information has come out with a new report in which it claims that Apple is expected to make the streaming service official in Spring 2019.
The Cupertino company reportedly told all big studios and networks to be ready for a mid-April launch for the streaming service. But the report also said that the actual release date could be within several weeks of that time frame. At the moment, we still don’t the exact release yet, where it will be made available, or how much users have to pay for the service. Given that Disney plans to show off its streaming service on April 11, chances are bright to see Apple announcing a video streaming service within the same month.
Apple has reportedly invested $1.4 billion in the upcoming video streaming service, which will rival Netflix, Amazon Prime Video, HBO and Hulu. Just last month, Apple CEO Tim Cook during an interview with CNBC’s Jim Cramer indicated that Apple would announce new services in 2019. While Cook didn’t reveal any information as to what the services would be, it’s being said that he may be referring to a Netflix-style video streaming service.
The iPhone maker is developing or creating as many as 17 original shows. The list includes the likes of a morning show by Reese Witherspoon and Jennifer Aniston, Children’s shows from the makers of Sesame Tree, new series from Oprah Winfrey, a thriller from M. Night Shyamalan, and a bunch of other interesting projects. Apart from a video streaming service, Apple is reportedly working on a Netflix-style streaming service for video games, the upcoming news and magazine subscription service, and possibly a brand new service in the health space.
As sales of iPhone appear to drop, the company is shifting its priorities to increase the services business. Its services business, which includes Apple Music subscriptions and the App store, has seen massive success. During the first quarter of 2019, Apple saw its Services revenue to hit $10.9 billion, a 19 per cent increase from the last year.