NEW YORK (BLOOMBERG) - Apple plans to roll out the Apple TV+ movie and TV subscription service by November, part of a drive to reach US$50 billion (S$69 billion) in service sales by 2020.
The company will introduce a small selection of shows and then expand its catalogue more frequently over several months, people familiar with the matter said.
A free trial is likely as Apple builds up its library.
The iPhone maker is entering an increasingly crowded field, led by streaming pioneer Netflix and Amazon.
In the coming months, Walt Disney, AT&T and NBCUniversal will debut new offerings - all targeted at the growing ranks of viewers who are cancelling cable-TV subscriptions or watching on mobile devices.
With its first foray into video subscriptions, Apple is weighing different release strategies for shows. The company is considering offering the first three episodes of some programmes, followed by weekly instalments.
Netflix tends to release whole seasons at once for bingeing, while HBO and Hulu often release episodes weekly.
Apple TV+ will be one of five major digital subscription services in Apple's portfolio, along with Apple Music, the upcoming Apple Arcade gaming service, Apple News+ and iCloud storage subscriptions.
Apple has not announced pricing for Apple TV+, but is weighing US$9.99 a month, which would match Apple Music and Apple News+.
Netflix and Amazon Prime charge as little as US$8.99 while Disney+ plans to seek US$6.99 when its service debuts in November.