Apple TV Plus is set to launch in November with a small selection of exclusive new shows, according to anonymous sources speaking to Bloomberg.
Its Netflix rival will likely cost $9.99 a month, and is expected to offer a free trial initially while it expands its library.
As part of Apple’s goal to expand its services revenue to $50 billion by 2020, the tech retailer is understood to be considering various methods to differentiate its service to well established rivals like Netflix and Amazon Prime Video, as well as big name newcomers like Disney.
This includes releasing the first three episodes of a series, followed by weekly single releases, rather than dropping a whole series in one go.
The Financial Times reported today that Apple has set aside $6 billion to produce original shows and movies, well above the initial figure of $1 billion given when Apple revealed the service in March.
Its current lineup includes “The Morning Show”, which will enlist A-list celebrities including Jenifer Aniston, Reese Witherspoon and Steve Carell, “Amazing Stories” from Steven Spielberg, “See” with Jason Momoa, “Truth Be Told” with Octavia Spencer and “Home”, a “Cribs” style documentary about multi-million dollar houses.
Apple’s services already make up around 21 per cent of its total revenue, and the introduction of Apple TV, Apple Arcade and Apple Card could help the retailer boost its service revenues even further amid falling hardware sales.