Apple ready to launch Netflix competitor

Apple’s latest financial report showed that iPhone sales have been slowing down in the past few quarters, so the company is now looking at alternative ways to keep the revenue growing. One of Apple’s more profitable platforms is iTunes, which sells music and offers a monthly subscription, as well. Platforms like Netflix and Spotify offer subscription-based access to a wide variety of video and audio content, respectively, and Apple seems to be willing to explore this video side of the business, as it recently announced a streaming service that will compete with Amazon’s Prime Video and Netflix.

Additionally, Apple also intends to add a subscription-based news service integrated with the News app, but Bloomberg notes that some publishing executives are still wary of adhering to it. The video streaming service will be officialized on March 25 at a special event that will be attended by Hollywood stars like Jennifer Aniston, Reese Witherspoon, Jennifer Garner and director J.J. Abrams. Bloomberg informs that Apple has been working on new shows with former Sony Pictures executives, and the new streaming service should launch some of these shows in 2019.

The new video streaming service is expected to be released this summer and it will be integrated with the Apple TV app and the standalone TV box. There will also be some free content and users may also pay to get access to more content providers like Starz.