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Apple expected to announce new streaming service

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March 25 (UPI) — Apple is expected to announce a new video-streaming service Monday to compete with Netflix, Hulu and Amazon Prime.

CEO Tim Cook is scheduled to take the stage at 1 p.m. Eastern time at the company’s Cupertino, Calif., headquarters for a media event that will be streamed live on Apple’s website.

Apple has been trying to break into the television and the video content business since Cook took over in 2011, following up on the ambitions of company’s founder Steve Jobs. Since then, though, Netflix and others have moved the goalposts on streaming services.

“Going back to Jobs, Apple has always been obsessed with content ambitions,” Wedbush analyst Daniel Ives told CNBC. “But the resources and strategy behind this have been flawed and now Cupertino is playing way behind the 8 ball.”

Apple will air original content and users will also be able to get HBO and Showtime content at extra cost.

A news and magazine service also is anticipated to be part of the announcement that could include the Wall Street Journal and People magazine.

What will likely be missing from Monday’s announcement is news of any new hardware.

“It’s an appropriate move to clear the decks of hardware to emphasize the point around services,” Loup Ventures founder and longtime Apple analyst Gene Munster said. “They don’t want people writing about new AirPods and iPads. They want them focusing on where the company is going long term.”

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