Apple is expected to unveil a new video streaming service to compete with Netflix when it hosts a live event at its California headquarters on March 25.
The technology giant has confirmed it will make an announcement at its Apple Park campus in Cupertino later this month, having sent out email invitations to the media that include a cinematic countdown animation and the tagline “It’s show time”.
Reports suggest the event may also be used to unveil new magazine and news subscriptions for Apple’s News app, features which could enable users to manage and view multiple subscriptions from one place.
Apple’s services business – which includes its Apple Music streaming service, the App Store and Apple Pay – is becoming increasingly important to the firm as an alternative revenue source following a fall in iPhone sales at the start of the year.
In contrast to a 15% drop in phone sales reported in its most recent quarterly financial results, Apple’s services revenue was up 19% to around £8.3 billion in the most recent figures.
Apple Music has been a successful addition to the company since its launch in 2015, having gained more than 50 million subscribers and closing in on market leader Spotify, which had reached 87 million paying subscribers at the end of last year.
- Press Association