Apple has announced plans to launch a movie and TV subscription service before the end of the year. Apple TV+ will initially feature a smaller selection of shows. The company plans to expand its catalogue over the coming months.
People close to the matter told Bloomberg that a free trial could be a possibility.
The movie streaming market is currently dominated by Netflix and Amazon with other major players such as Walt Disney, NBCUniversal and AT&T also presenting as notable competitors.
The company may release shows weekly – similar to traditional TV – rather than all at once like many competitors do.
Pricing could be around $9.99 per month, but the company declined to comment.
According to the Financial Times, the iPhone maker will be spending around $6 billion to create new shows and movies – below Netflix’s estimated $14 billion.
The first few shows include “The Morning Show,” “Amazing Stories,” “See”, “Truth Be Told” and “Home”.
The streaming service will be part of the Apple TV app.
The new subscription model adds another revenue stream for the company which already offers Apple Music, Apple Arcade, Apple news+ and iCloud storage.
As consumers are spending less of their hard-earned cash on hardware, Apple has diversified its service portfolio.