While Apple has yet to reveal the pricing of its subscription service, a sum of $9.99 per month is reportedly being considered for the U.S. - along with a free trial period to entice users - according to Bloomberg News.
Apple has reportedly spent $6 billion gathering TV and movie content for the new platform. It's part of a plan to have Apple's Services business hit $50 billion by 2020.
The company has announced plans to launch a new game subscription service called Apple Arcade internationally later this year.
The programming would only be available on a subscription channel, most likely bundled with the company's existing Apple Music streaming service. In the coming months, Walt Disney, AT&T and Comcast's NBCUniversal will debut new offerings - all targeted at the growing ranks of viewers who are cancelling cable-TV subscriptions or watching on mobile devices. The service will be rolled out in the US, Canada, Netherlands, Australia and New Zealand and will compete directly with Disney's streaming service. While Hulu releases new episodes for its flagship series weekly, Netflix tends to dump all episodes at once in favor of the binge.
If true, Apple's $9.99 price tag would put it slightly on the high end of streaming services. While Netflix usually releases entire seasons of shows on one day, and HBO releases episodes weekly, one of the options Apple is considering would involve releasing the first three episodes of a season all at once, then pushing episodes weekly after that.
The Financial Times also reports that Apple will now release Apple TV+ earlier than expected in order to "pre-empt" Disney's Disney Plus service.
The company is making a big commitment to video, including around $300 million alone to two seasons of "The Morning Show", according to people familiar with the matter.