Apple says 'It's show time'

Credit: Reuters Studio
Published on March 11, 2019 - Duration: 01:58s

Apple says 'It's show time'

Apple on Monday invited media to a March 25 event at the Steve Jobs Theater on its campus in Cupertino, California, where it is expected to launch a television and video service.

Jane Lanhee Lee Reports.

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Apple says 'It's show time'

"It's show time" says Apple in a media invite for a March 25th event.

While the Cupertino tech giant isn't saying much more beyond that, speculation is building that it's planning to launch a streaming television service.

Sources have told Reuters that Apple's building a new global video service that will likely include subscription TV, and challenge rivals from Netflix to Amazon Prime Video.

Reuters tech reporter Stephen Nellis SOUNDBITE: STEPHEN NELLIS, REUTERS CORRESPONDENT, SAYING: "Apple's play in the video streaming industry could have a big impact.

There are already rivals like Netflix or even Amazon prime video service that have been doing this for a long time.

But Apple has a lot of weight and a lot of money to spend both on original content and promoting the service.

We've seen something similar with Apple Music where Spotify was around for years.

Apple wasn't really in the streaming game but it had iTunes and then they made a big pivot to streaming with Apple Music.

They put a lot of money behind marketing the service and in some countries like the United States it's believed to have caught up to the rival Spotify.

We could see a similar big move and big impact in the streaming video industry." Apple has long hinted at a video service, with CEO Tim Cook speaking openly about it on earnings calls with investors without any details.

Apple has spent $2 billion dollars in Hollywood producing its own content and signing major stars such as Oprah Winfrey.

Reuters sources have said the Apple TV service may bring together other subscriptions from CBS, Viacom, and Lions Gate Entertainment's Starz among others, along side Apple's own original content on one platform.

That could help Apple users from having to use multiple apps for watching TV or movies online.

The potential revenues from a TV service have become a focus of investors after Apple in January reported its first-ever dip in iPhone sales during the key holiday shopping period.

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