Apple Inc is expected to finally lift the curtain on Monday on a secretive, year...
SAN FRANCISCO/LOS ANGELES - Apple Inc is expected to finally lift the curtain on Monday on a secretive, years-long effort to build a television and movie offering designed to compete with big media companies and boost digital services revenue as iPhone sales taper.
Hollywood celebrities are likely to trek to Apple’s Cupertino home to greet the debut of a revamped Apple TV digital storefront. Apple has commissioned programming from A-list names such as Jennifer Aniston, Reese Witherspoon, Oprah Winfrey and Steven Spielberg. The big tech war for viewers ignited a consolidation wave among traditional media companies preparing to join the fray. Walt Disney Co, which bought 21st Century Fox, and AT&T Inc, which purchased Time Warner Inc, plan to launch or test new streaming video services this year.
The services segment accounted for only about 14 percent of Apple’s overall $265.6 billion in revenue, but investors have pinned their hopes for growth on the segment. Ahead of the launch, Apple negotiated deals that would let Apple bundle and sell networks at a discount, replicating a business model from the cable TV industry, one source familiar with the matter said.
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