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Apple announces video streaming service in bid against Netflix, Hulu

Technology giant Apple unveiled an online video streaming service on Monday, in its latest bid for a share of the lucrative market dominated by Netflix, Amazon and Hulu.

Los Angeles, 26 March 2019 (MIA/dpa) – Technology giant Apple unveiled an online video streaming service on Monday, in its latest bid for a share of the lucrative market dominated by Netflix, Amazon and Hulu.

Apple is calling the service “the new home for the world’s most creative storytellers,” saying the video subscription service will feature exclusive programming from Oprah Winfrey, director Steven Spielberg and others.

The service will launch in autumn 2019, but the company did not disclose how much it will cost.

The company also debuted a companion Apple TV app, which includes content from HBO, Showtime and Starz.

On Monday, Apple also announced Apple News+, a subscription service costing 9.99 dollars a month that gives access to more than 300 magazines and newspapers.

“Magazines are iconic and a part of our culture,” Apple CEO Tim Cook said during a product announcement event in Cupertino, California.

“This is going to take Apple News to a whole new level.”

The premium service adds to Apple’s free news service, providing a magazine-like experience on their digital platform.

“We wanted to create the best magazine-reading experience ever for a mobile device,” said Roger Rosner, vice president of application at Apple.

Apple’s stock dropped nearly 2 percentage points following the product announcements

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