Does Apple Have A Streaming Service?

The dominance of services like Netflix, Hulu and Amazon in the streaming services space makes it seem as though the bar is simply too high for new parties to get involved in the space. Apple, once again, thinks differently. At this point, Apple does not have a streaming service, but many who follow the space expect them to announce one very soon. Apple has all but confirmed that these rumors are true. They even released a mysterious video of an old film reel counting down to March 25, 2019. Those who follow the space will remember when Apple hired the former Sony Pictures executives Zack Van Amburg and Jamie Erlicht, presumably to take the lead on this very project. Unfortunately, more details about the platform itself are relatively scarce. The company seems to be keeping everything close to the chest leading up to this event on March 25. There are a few more details we can infer, but not definitively conclude at this time. According to a recent Bloomberg report, the video service will be comparable to those offered by Amazon and Netflix. In addition to a vast library of streaming content, Apple will also be including their own original content—a concept they have heavily invested in. Apple already has two original shows available now: Carpool Karaoke and Planet of The Apes. Bloomberg detailed more information about what kind of content the service will be bringing to the table. According to them, “Along with an Apple subscription, there will be some free content. Users will also be able to pay to access shows from other providers, such as Starz, as is possible with Amazon’s video service.” This move is likely designed to help Apple deal with slowing iPhone sales. While the iPhone still remains Apple’s flagship product, slowing sales make it clear that it may not be able to remain the backbone of the tech giant’s profit model. If Apple can indeed create a streaming video service that can compete with Netflix, it could make them a lot of money. That is, however, a very big if. Sources: https://www.businessinsider.com/apple-march-25-event-video-streaming-service-expected-2019-3 https://www.bloomberg.com/news/articles/2019-02-13/apple-is-said-to-invite-hollywood-stars-to-video-service-launch

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