The maker of iPhones and other mobile devices is making a bold move as it enters into an overcrowded video streaming arena — pioneered by Netflix Inc, HBO and Walt Disney Co, the family-friendly network that will also be launching Disney+ set for November 12.
With more entering the SVoD market, PricewaterhouseCoopers (PwC) is forecasting that by 2023 the OTT video market will double in size to $72.8 billion.
Thus, Apple Inc is employing a different release strategy from the rest of its competitors. To target the cord-cutters, the company has plans to release three initial episodes of some programmes free to entice would-be subscribers, followed by weekly instalments, according to the Bloomberg report.
Although the price of the Apple TV+ subscription has yet to be finalised, it is predicted to be in line with the pricing of Apple Music and Apple News+.
The service will also be launched in more than 150 countries, focusing on Apple products users, even while its TV service app is compatible with third-party devices such as Roku and Samsung TV.
With $6 billion being set aside for original productions and marketing efforts for Apple TV+, the company hopes to amass 100 million subscribers by 2025.