Apple is about innovation, and the company has always managed to reinvent itself and bring new things. It appears that Apple is ready to make another step, and it seems that the company is planning to get into the television business. While not many details are available, the launch of a new Apple streaming service is expected.
The biggest clue is the fact that J.J. Abrams (director of Star Wars), Reese Witherspoon, and Jennifer Aniston are expected to show up at an Apple event. “It seems fairly obvious they are launching a new video service,” declared Techsponential technology market analyst Avi Greengart.
Will Apple streaming service be successful?
Apple has released mostly successful products, and it has loyal customers. However, when it comes to streaming, the company might discover that there is plenty of competition. It is hard to tell whether Apple will be able to bring something new. “If the content is compelling enough, people will subscribe,” Greengart adds. “This is not new, but it is hard to do well.”
However, Apple has millions of users that it can count on, which is a significant advantage.
“Apple’s business model is essentially a subscription business model,” explains analyst Laura Martin. “Apple’s access to more than 900 million unique users globally, most of them among the wealthiest individuals in the world, plus its culture of creating hardware and services with proven commercial appeal makes it well-positioned.”
Apple needs this streaming service
There is a chance that Apple desperately needs a new successful product. The iPhone sales numbers aren’t disclosed anymore, and it appears that the smartphones aren’t selling as well as Apple hoped to.
An Apple streaming service would help the company expand their market, and it will be “a pivotal step for Cupertino-based firm in further driving its services flywheel and entering the ‘streaming content arms race’ which is clearly starting to take form,” according to Daniel Ives of Wedbush Securities.