Apple’s new services
On March 25, Apple (AAPL) announced the expansion of its service segment with video streaming, news subscription, game subscription, and credit card offerings. While the iPhone maker’s event was targeted at regaining investors’ confidence, Apple overlooked several important details about its video streaming services.
On Monday, Apple revealed that Apple TV+ services would include the latest movies and shows, Apple TV channels, and exclusive video content. The company said that Apple TV+ would be available in May with a software upgrade on Apple devices.
To expand the reach of its video streaming services, AAPL has partnered with Roku and Amazon, allowing for Apple TV app installation on Roku streaming players and Amazon Fire TV sticks. The company also revealed that it has partnered with Samsung, LG, Sony, and Vizio to make Apple’s new video streaming services available on their smart TVs.
Did Apple make the announcement in haste?
During the event, Apple tried to excite people about its upcoming video streaming services. However, it didn’t provide any details about the pricing of Apple TV+, which could be crucial in the service’s future. In the last few years, the video streaming service space has become crowded, which could make it more challenging for Apple to succeed.
Apple may have hastily announced these new services because of its iPhone sales troubles. At the end of February, AAPL comprised ~9.61% and ~3.34% of the Invesco QQQ Trust ETF (QQQ) and the SPDR S&P 500 ETF (SPY), respectively.