Disney, Netflix, and Roku Shares All Drop After Apple Streaming Announcement

Marco Green
September 19, 2019

But Apple is entering a market that Netflix practically created in 2007 - around the same time as the first iPhone came out. The company's annual iPhone extravaganza on Tuesday showed starkly that the table of Apple products would need to be the size of a convention center.

Apple previously reached this benchmark in 2018. It first hit the mark in August 2018. He was critical of Apple's accounting methods, and warned of lower gross margins and profits, as well as impacting on average selling prices and earnings per share. It will also be free for one year with purchases of new Apple devices.

The iPhone will sell for $699. But that price point proved to limit demand in major emerging markets.

IPHONE 11 PRO AND PRO MAX: Updates to the XS and XS Max, with prices staying the same at $1,000 and up. It was revealed that Iger stepped down on September 10, which happens to be the same day that Apple revealed new details about its Apple TV+ streaming video service.

"You have to expect they're going to do something, considering how hyper competitive the streaming video space is", said Tim Hanlon, CEO of Vertere Group. The stock has risen more than 13% off an August low and is less than 6% below its record close.

Despite reports that Disney was considering partnering with other providers, it ultimately decided that it would clearly be able to trade on its name alone, announcing Disney+ shortly after Apple announced its own streaming service. Apple TV+ promises to offer exclusive TV shows and movies, something that can't be streamed by any other streaming service provider. But Apple TV+ won't have as much content as its rivals - it will only stream original shows.

Offering all original content has its own merit and advantages, and Apple wants to cash in on it with Apple TV+.

At the beginning of its fiscal year, Apple changed where it accounts for the value and costs of free services - like Apple Maps - and moved it into its services segment. In addition to this fact, you need an Apple device to use the service meanwhile anyone can access Netflix on any device be it a TV, an Android phone, whatever can run the Netflix app.

Apple's event on Tuesday did a lot to boost analyst optimism. Prices begin at $699, down from last year's new iPhone that started at $749.

November 1 will see the launch of Apple TV+, and for a change, it won't be coming exclusively to Apple devices.

Other reports by Click Lancashire

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