Apple event today, March 25 will see the launch of the company's answer to Netflix
Apple is gearing up for its ‘Showtime’ event on Monday, March 25 where it will unveil its streaming service that will rival the likes of Netflix, Amazon Prime Video, and Hulu.
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Apple CEO Tim Cook said in January that the company is investing a large proportion of efforts as well as capital into making its own streaming service – something co-founder Steve Jobs envisioned back in the company’s glory days. With the iPhone and other hardware products coming to the stagnation point, Apple is resorting to other ways – including the streaming service that will be launched on Monday.
The streaming service that is set to be unveiled tonight (10.30 pm IST, March 25) will bolster Apple’s position in the market but at the same time will give birth to more rivals that currently dominate the streaming space globally. Netflix, which was reportedly approached by Apple for its streaming service, denied any involvement with the Cupertino-based giant. While this could be a downside to Apple’s hopes, this may as well boost the company’s sales.
Apple has already inked deals with major production houses in Hollywood, as well as studios to bundle their content into its streaming service that will be available to iPhone, iPad, Mac, and Apple TV owners. The user base Apple has for its hardware devices is bigger than what Netflix boasts of, giving the Tim Cook-led company an edge over its potential rival. In fact, Apple could even court names such as HBO and Showtime for its streaming service.
Oprah Winfrey, Jennifer Aniston, Jennifer Garner, Reese Witherspoon, and many famous celebrities are also chipping in with Apple for its streaming platform. While this may seem like an opportunity for Apple to sway its software market up, there is a challenge to what it could offer to the loyalist customers.
Netflix is a name popular worldwide, mainly because of the ease of access it offers. Netflix can be accessed on a range of devices, Android smartphones having the largest share. Apple’s streaming service, on the other hand, will rely only on the devices the company sells, at least initially.
In the countries like India, the penetration of Apple devices, such as iPhone, is dramatically low on account of the price disparity against Android phones that can be bought for as low as Rs 2,000 – Rs 3,000. While Apple is unlikely to release its streaming service in India in the first wave, it will eventually realise the boom in the streaming market here, thanks to Netflix, Amazon Prime Video, and the local competitors such as Hotstar, ZEE5, and Voot among others.
Ahead of its March 25 event, Apple’s share rose over 10 per cent to the highest point in the last four months.