Apple Undercuts Video-Streaming Rivals
During its marquee product showcase yesterday, the Cupertino-based company not only unveiled a new three-camera iPhone, but announced its upcoming TV+ streaming service would cost only $4.99, taking aim at rivals like Netflix and Disney. What’s more, Apple could attract hundreds of millions of new subscribers by offering a free year of TV+ with the purchase of a new product. The company also bumped down the price of its most popular iPhone by $50.
Why does it matter? With customers keeping phones longer due to high prices, subscription services will be a central part of Apple’s business model.