Apple Inc’s Chief Executive Tim Cook is seeing company’s forthcoming Apple TV+ streaming service not as a Netflix-killer but a service that will exist alongside other services.
Apple TV+ was announced in March by Apple as a streaming service that will provide original content from big names like Steven Spielberg and Oprah Winfrey, and doing so, Apple unveiled its plans of spending $2 billion on programming but did not disclose the price of new service to be launched in the fall of this year.
Apple’s efforts around television service are under closer observation of the investors as they are seeing subscription services becoming an increasingly important segment of company’s results after declining iPhone sales.
Apple is entering a much-crowded field of TV streaming service with name like Netflix, Hulu, Amazon, Disney, YouTube and many others are already established or establishing players, having a wider price spectrum for their services. At the one end Walt Disney Co is launching its streaming service at per month cost of $6.99 this fall, whereas at the other end stands Alphabet Inc’s YouTube, which has announced this month that it has been raising the price of its cable-like online TV service YouTube TV to $49.99 per month bundled with more than 70 channels, but Apple TV+ is also a threat to these services in the long run if not in near future.
Cook, on a conference call with investors on Tuesday, pointed out that Apple will not run in the race of providing everything to its viewers.
Referring to streaming television services that have now been delivered over the internet rather than delivering over a traditional cable service, Cook told investors that there is a heavy shift from the cable bundle to over-the-top.
Apple is in view that most of users will be using more than one over-the-top products for their streaming needs, and company will do its best to convince such users that Apple TV+ product should be one of them that they are looking for, Cook said.