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Apple Plans To Spend $6 Bln For Apple TV+, Sees November Launch

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Apple, which is set to launch its original video subscription service Apple TV+ soon, has set aside around $6 billion for new shows amid the intensifying streaming competition, according to a report by the Financial Times.

Following this, Bloomberg reported that the technology giant is looking for a November launch for its Apple TV+ movie and TV subscription service with a price of $9.99 per month. The move is said to be part of its efforts to reach $50 billion in service sales by 2020.

Initially, Apple's original video subscription service will unveil a small selection of shows, and the catalog will then be expended over several months. The service is likely to offer a free trial to customers.

To start with, Apple will offer shows like "The Morning Show," Steven Spielberg's "Amazing Stories," and a documentary series about extravagant houses called "Home", among others.

The company had earlier unveiled Apple News+, a new subscription service that brings together over 300 magazines, newspapers and digital publishers, in the US for $9.99 a month.

While announcing the launch of Apple TV+ in March, the company had said that pricing and availability for the service will be announced later this fall. In June, Apple unveiled tvOS 13, the newest Apple TV operating system. Apple's TV service will be part of its TV app that comes installed on its devices.

The streaming service industry is currently ruled by Netflix Inc. and Amazon.com Inc., while Walt Disney Co., AT&T Inc. and Comcast Corp.'s NBCUniversal are planning to soon enter the streaming service.

The monthly charge for Netflix and Amazon Prime is around $8.99. Disney+, which plans to launch its service in November, is likely to charge $6.99.

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