Apple Enters Streaming Wars With $4.99 TV+ Service
Apple launches its Apple TV+ video-streaming service at $4.99 a month, undercutting competitors like Netflix. The tech giant also unveils three new iPhones as it shifts focus toward services amid slowing device sales.
Apple enters the competitive video-streaming market with Apple TV+, a new service priced at $4.99 per month. Launching on November 1, the platform features nine original titles, including a star-studded show called The Morning Show. Additionally, Apple offers a free year of the service to customers who purchase a new iPhone, iPad, Mac, or Apple TV, and allows sharing with up to six family members.
This aggressive pricing undercuts major competitors like Netflix, which charges $8.99 for its standard plan, and the upcoming Disney+ service, which costs $6.99 per month. The low cost represents a strategic move by Apple to quickly attract subscribers in a crowded field. Alongside the video platform, the company also sets its new Apple Arcade gaming service at the same $4.99 monthly price point.
The streaming announcement accompanies the release of the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max, all featuring upgraded cameras. These new offerings highlight a significant shift in Apple's business model, as the company relies more on digital services to drive revenue. With iPhone sales declining and making up less than half of Apple's total revenue this past quarter due in part to a struggling Chinese market, services like Apple TV+ become increasingly vital to the company's financial future.