Apple CEO Tim Cook announced that Apple TV+ will launch Nov. 1 and cost $4.99 a month.
The low price is certain to increase the pressure on other new entrants into the streaming business.
Cook noted that the price was the same as for a single movie rental. “This is crazy,” he said.
Cook said Apple TV+ will be releasing new shows every month and that it will be available in over 100 countries at launch.
“We're so excited about Apple TV+ that we wanted to do something really special and so starting today, when you buy an iPhone, an iPad, a Mac or an Apple TV, you’ll get one year of Apple TV+,” Cook said.
“So we can’t wait for you to start watching Apple TV+ on Nov. 1,” he said.
Cook said Apple TV+ was designed to bring viewers "the best original stories from the most creative minds in television and tell stories that help you find inspiration that are grounded in emotion."
He noted that earlier this summer, Apple released trailers for three of its new series, For All Mankind, Dickinson and The Morning Show.
“The reaction to these trailers has been incredible. They’ve been viewed over a hundred million times,” Cook said. He added that the trailer for The Morning Show, starring Reese Witherspoon, is “one of the most-watched trailers for any new television show ever.”
During his presentation, he introduced the premiere showing of the trailer for the new series See, starring Jason Momoa.