Netflix will not be part of Apple’s new streaming service, says CEO

Ben StevensCompanies News

Netflix’s chief executive has dealt a blow to Apple’s upcoming rival video streaming service, announcing that none of its content will be made available.

Apple is expected to reveal its upcoming streaming service on March 25, after inviting various media outlets to the Steve Jobs Theatre in its headquarters in California for an undisclosed event last week.

However, its key rival-to-be Netflix, currently the dominant force in the video streaming market, has quashed any talk that its vast catalogue of original programming will be available on Apple’s new service.

“We have chosen not to integrate with their service,” Netflix chief executive Reed Hastings said.

“We prefer to let our customers watch our content on our service.”

READ MORE: Apple expected to launch its Netflix rival on March 25

According to Reuters, Apple’s service will resell subscriptions from various media companies like CBS Corp, Viacom and Lions Gate Entertainment’s Starz.

Apple has also ploughed $2 billion (£1.53 billion) into creating original content for its Netflix rival, enlisting the help of stars such as Oprah Winfrey.

It is also reportedly in discussions with HBO and WarnerMedia in an effort to include their programming as part of the service.

This marks a significant shift away from Apple’s focus on hardware, coming off the back of falling iPhone sales in key markets which saw it report its first decline in profits for 10 years in January.

Meanwhile, Netflix remains undeterred about the growing competition in the streaming market, which is soon to see new services from Walt Disney and WarnerMedia also enter the fray.

“These are amazing, large, well-funded companies with very significant efforts,” Hastings said.

“They are going to do some great shows. I’m going to be envious. They’re going to come up with some great ideas. We’re going to want to borrow those.

“We will make this a better industry if we have great competitors.”

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Ben StevensCompanies News

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