The streaming wars are heating up.
Topline:
Shares of Netflix and Disney dropped on Tuesday, following an announcement that Apple’s new rival TV service will be less expensive than any other major streaming service.that its new streaming service, Apple TV+, launches November 1 and will price at $4.99 per month - making it cheaper than other established streaming options. Netflix shares fell over 3% following Apple’s announcement, while Disney stock dropped more than 2%.revealed a decrease in U.S.
Shares of streaming device Roku—which directly competes with Apple TV—were the hardest hit, plunging 12% on Tuesday.Apple TV+ will showcase original programming content from Apple, in what is the company’s latest effort to expand the services side of its business and offset declining iPhone sales. The details on the new streaming service were a center-piece of Apple’s big announcements today.
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