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Apple will launch a new streaming service aimed at rivalling the successes of Netflix and Amazon at a live conference later today.
The subscription-based service will offer a similar model of on-demand content, including original shows and movies.
Company - £1 - Shows - Studios - Content
The company has invested around $2 billion (£1.5 million) in producing these shows, some of which will be created by in-house studios while other content will come from major industry players.
That includes a drama series about a network TV morning show starring Jennifer Aniston, Reese Witherspoon and Steve Carell. The tech giant is also rumoured to have snapped up Oprah Winfrey to contribute to its original shows.
Announcement - Sales - Apple - Revenue - Generator
The announcement comes amid declining sales of Apple's main revenue generator, the iPhone, as well as a number of recent updates to its other flagship products.
Apples launch event will take place at 5pm GMT (10am PDT/ 1pm EDT) at the firm's headquarters.
Apple - Services - Aspect - Business - Wake
Apple is beginning to focus on the services aspect of its business in the wake of falling iPhone sales.
It's services revenue is on the rise, up 19 per cent to around £$1 billion (£8.3bn) in its most recent quarterly financial report compared to a 15 per cent drop in phone sales.
Market - Netflix - Amazon - HBO - Apple
But it's late to a market dominated by Netflix, Amazon and HBO, which launched streaming while Apple stayed focused on iPhones, iPads and computers.
While co-founder Steve Jobs began toying with the idea of building a powerful TV business before his death in 2011, it has taken CEO Tim Cook nearly eight years to bring it to fruition.
Series - Apple - Service - Apple - £8
The original series on the new Apple service reportedly cost Apple more than $1 billion (£8.3bn), which is far less than Netflix and HBO spend each year.
'Apple is very late to this game,' eMarketer analyst Paul Verna said.
'Netflix - Standard
'Netflix has become the gold standard in...
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