APPLE PLANNING A NOVEMBER DEBUT OF STREAMING TV

Apple plans to roll out the Apple TV+ movie and TV subscription service by November, part of a drive to reach $50 billion in service sales by 2020.

The company will introduce a small selection of shows and then expand its catalog more frequently over several months, people familiar with the matter said. A free trial is likely as Apple builds up its library, said the people, who asked not to be identified because the plans aren’t public.

The iPhone maker is entering an increasingly crowded field, led by streaming pioneer Netflix and Amazon.com. In the coming months, Walt Disney, AT&T and Comcast’s NBC Universal will debut new offerings — all targeted at the growing ranks of viewers who are canceling cable-TV subscriptions or watching on mobile devices.

With its first foray into video subscriptions, Apple is weighing different release strategies for shows. The company is considering offering the first three episodes of some programs, followed by weekly installments, the people said. Netflix tends to release whole seasons at once for bingeing, while AT&T’s HBO and Disney’s Hulu often release episodes weekly. The service will launch globally in over 150 countries.

Apple TV+ will be one of five major digital subscription services in Apple’s portfolio, along with Apple Music, the upcoming Apple Arcade gaming service, Apple News+ and icloud storage subscriptions. The company also generates recurring revenue from products like Apple Care extended customer service and its bank-operated iPhone upgrade program. It will also likely start pulling in revenue from the Apple Card, which began rolling out earlier this month.

Apple hasn’t announced pricing for Apple TV+, but is weighing $9.99 per month, the people said, which would match Apple Music and Apple News+. Netflix and Amazon Prime charge as little as $8.99, while Disney+ plans to seek $6.99 when its service debuts in November. — Bloomberg News