Apple Inc is intending to launch its streaming television service and marking an April event as a better time to introduce that service which is likely be not only the original content from the Apple but could also accompanied with subscription TV services from Viacom Inc, Lions Gate Entertainment Corp’s Starz and CBS Corp, sources familiar with the matter told Reuters on Wednesday.
Intentions like production of its own content by spending $2 billion in Hollywood, signing contracts with major stars such as Oprah Winfrey and launch of video service across its platform were long unveiled by the Apple.
Apple is expected to launch its TV service globally, one of the source said.
The TV service, started with ambitions of better compete with similar services from Amazon’s Prime Video and Netflix, is likely to be distributed through Apple’s App Store, which is currently available in more than 100 countries.
But the precise plans about the distribution schedule of those shows is still kept secret by the Apple and to the other end, investor have been seeing the Apple’s strategy as an alternative to generate revenue from paid subscriptions to offset the effects of lowering iPhone sales, which also saw a decline even in the holiday shopping quarter, an experience company faced for the first time ever.
Apple will be showing its own content as well as content from other media companies on its new service, which will provide iPhone and other devices users with a single platform for those channels and will eliminate the requirement of juggling with multiple apps, the sources said.
Just like Amazon’s Prime Video Service, Apple is also intending to resell TV channels subscriptions which will allow it to keep a share of the sales.
The TV service will be part of Apple’s services segment which generated revenue of $37.1 billion in fiscal 2018.
Apple is also intending to make HBO part of its new TV service and for that, discussions are in progress.