Apple details new magazine, news app at services event

The company also said it is launching a credit card called Apple Card

In this June 4, 2018 file photo, Apple CEO Tim Cook speaks during an announcement of new products at the Apple Worldwide Developers Conference in San Jose, Calif. Apple is expected to announce Monday, March 25, 2019, that it‚ launching a video service that could compete with Netflix, Amazon and cable TV itself. (AP Photo/Marcio Jose Sanchez, File)

Apple on Monday laid out the details of its news subscription service, Apple News Plus, at an event Monday. It’s also expected to launch a video service that could compete with Netflix, Amazon and cable TV itself.

The news service costs $10 a month and includes roughly 300 magazines and a handful of major newspapers, including The Wall Street Journal and the Los Angeles Times. Missing from the announcement were other major newspaper publishers, who have reportedly been wary of Apple’s terms.

READ MORE: Apple announces its long-awaited streaming TV service

The company also said it is launching a credit card called Apple Card.

Apple is making the announcements at its Cupertino, California, headquarters during an event likely to be studded with Hollywood celebrities. The iPhone has long been Apple’s marquee product and main money maker, but sales are starting to decline. The company is pushing digital subscriptions as it searches for new growth.

Apple is making the announcements at its Cupertino, California, headquarters during an event likely to be studded with Hollywood celebrities.

The video service is a long-awaited attempt from the iPhone maker, several years after Netflix turned “binge watching” into a worldwide phenomenon.

The new video service is expected to have original TV shows and movies that reportedly cost Apple more than $1 billion — far less than Netflix and HBO spend every year.

Making must-have TV shows and movies that are watchable on any device has propelled Netflix into a force in both Silicon Valley and Hollywood.

But Apple remained focused on making on gadgets: iPhones, iPads, computers and its Apple TV streaming box for TVs. Apple co-founder Steve Jobs began toying with the idea of building a powerful TV business, but he couldn’t pull it off before his death in 2011. It has taken his successor, CEO Tim Cook, nearly eight years to draw up the script that the company will now try to execute.

“Apple is very late to this game,” eMarketer analyst Paul Verna said. “Netflix has become the gold standard in how to create and distribute content, using all the data they have about their viewers.”

Netflix’s prowess has attracted 139 million subscribers worldwide. But Apple will have several other deep-pocketed competitors fighting for consumers’ dollars. Amazon has also become a formidable force in video streaming. Walt Disney Co. is launching its own service this year, armed with an imposing library that became more formidable with its purchase of 21st Century Fox’s films and TV series. AT&T is debuting another streaming service built around HBO.

Apple has plenty of money to spend, though, with about $245 billion in cash and marketable securities. It must prove itself attractive to Hollywood even without a track record for supporting high-quality programming and then ensuring it gets widely seen.

As part of its efforts to make quick connections, Apple hired two longtime Sony television executives, Jamie Erlicht and Zack Van Amburg, in 2017. They have reportedly signed up stars such as Oprah Winfrey, Steven Spielberg and Jennifer Aniston.

Michael Liedtke And Tali Arbel, The Associated Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

VIDEO: Dashcam records near-miss by bad driver near Sooke

Driver crossed four lanes of traffic and back over again, barely missing three other vehicles

Protesters block entrance to Victoria government building to support Wet’suwet’en First Nation

A letter with four demands was delivered to the Ministry of Energy, Mines and Petroleum Resources

George Jay parents tired of dog poop left on school’s fields

Parents advocate for stronger fines, more signage in the neighbourhood

PHOTOS: Neither rain, nor sleet, nor snow stopped paper carriers

More than 180 carriers brave the snow for deliveries

VIDEO: Greater Victoria mom shares ‘insane’ experience of viral dinosaur video

Tabitha Cooper filmed her costumed sons meeting their grandma at the Victoria International Airport

B.C. player becomes only second Canadian to enter Hall of Fame of Baseball

Walker received 76.6 percent of the Baseball Writers of America Association vote

Boy, 13, arrested after alleged assault involving girl at B.C. middle school

Boy alleged to have used ‘inappropriate levels of force’ to injure the girl

Police suspect foul play in Cowichan Tribes death

Police are looking at foul play in relation to a death on… Continue reading

Hospital patient pleads guilty to dumbbell assault of nurse in Abbotsford

Neale Heath admits to assault causing bodily harm in attack last September

‘Epic sky palace’: B.C. businesses help create dream treehouse for boy recovering from cancer

‘It was kind of a bright shining beacon at the end of a horrible, dark tunnel’

VIDEO: Nickelback gears up for nostalgia tour

Canadian band joins Stone Temple Pilots for a summer tour that includes just one stop in Canada

B.C. teacher suspended for poking student in stomach, pulling another’s ponytail

Teacher also swore in classroom, used Facebook to contact students

Most Read