Bloomberg reports Apple is targeting a November launch date for Apple TV+ and is “weighing” a $9.99 per month price for a subscription to the new streaming service.
Apple has yet to reveal details about pricing for their upcoming video streaming service, so the Bloomberg report is the first time we’ve heard a $9.99 price point mentioned. While the price comes in higher than Disney’s $6.99 per month price for their upcoming Disney+ server, the price is competitive with pricing by Hulu and Netflix.
The report says a free trial period is likely as “Apple builds up its library.” However, it did not delve into specifics. Apple Music offers a three month free trial, and Apple Arcade is expected to offer a one month trial. (It was reported yesterday that Apple Arcade will cost $4.99 per month.)
The new service will feature exclusive original shows, movies and documentaries from some of the most celebrated names in the television and movie business, including Oprah Winfrey, Steven Spielberg, Jennifer Aniston, Reese Witherspoon, Octavia Spencer, J.J. Abrams, Jason Momoa, M. Night Shyamalan, Jon M. Chu and others.
A report on Monday claimed Apple is budgeting more than $6 billion for its original content library for their upcoming Apple TV+ streaming service.
The Financial Times reported their sources told them Apple’s Worldwide Video division has far surpassed its original $1 billion allowance, due to its eagerness to catch up with already established competitors like Netflix, HBO, and others. The new streaming service will also face stiff competition from the new Disney+ video service, set to debut in November.
Many believe that Apple might bundle all of its services together to fuel subscriptions. The Cupertino firm could bundle Apple Music, iCloud Storage, Apple News+, and Apple Arcade together for one monthly charge.
The Bloomberg report indicates Apple could fuel subscriptions to its new services by bundling them with the iPhone Upgrade program, which allows customers to update to new models annually via monthly payment plans.