Apple’s spring TV and news event: Live coverage

Noah Berger | AFP | Getty Images

Attendees wait for a product announcement event to begin at the Apple Cupertino, California, headquarters on September 12, 2018.

Apple is holding a press event at its campus in Cupertino, California, on Monday at 1 p.m. ET.

The iPhone maker is expected to announce a streaming video service anchored by original programming produced by Apple, in addition to streaming packages from providers like HBO and Starz, CNBC previously reported. It’s part of a new digital TV strategy in which Apple is looking to become a marketplace selling “channels” from existing providers.

Each channel, such as Showtime or HBO, could cost $9.99, according to the Wall Street Journal. Apple hasn’t decided what it will charge for its programming, according to the report.

TV isn’t the only new subscription expected to be revealed in Cupertino. Last year, Apple purchased Texture, an app that bundled access to several magazines into one $9.99-per-month subscription. That app is expected to be relaunched as a new paid tier for Apple News. Participating titles will include several magazines and the Wall Street Journal, but not the New York Times or the Washington Post, according to the New York Times.

Apple may also launch a credit card on Monday in association with Goldman Sachs featuring tight integration with the iPhone’s Wallet software. Goldman Sachs CEO David Solomon is reportedly attending Monday’s event.

Finally, Apple may also launch a subscription for mobile gaming that would let users play a bundle of games for one monthly price, according to Bloomberg.

Apple’s new subscription services come at a critical time for the company as it searches for new areas of revenue growth to compensate for stalling iPhone sales.

Investors and analysts believe that Apple’s services business, which includes revenue from App Store and licensing fees in addition to monthly subscriptions, is going to drive the majority of revenue growth over the next few years.

Attacking the television market has been a priority for Apple’s leadership for years. Late Apple CEO and cofounder Steve Jobs said that he “cracked” TV, according to a 2011 biography written by Walter Isaacson, and current CEO Tim Cook has said that the TV experience is “stuck in the 70’s.”

This story is developing.

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