Apple heats up streaming war with $5 TV service

SOUNDBITE (ENGLISH) APPLE CEO TIM COOK, SAYING:

"It is just $4.99 per month for your whole family."

And with that Apple CEO Tim Cook on Tuesday pushed the streaming video wars into hyper drive.

Apple TV+, the company's long talked about streaming service, will be cheaper when it launches on November 1st than all its major competitors.

That roughly $5 monthly fee covers up to six family members at a time.

Compare that to industry giant Netflix. It's cheapest monthly plan is $9 a month for just one viewer. And Disney Plus, which is still in the works, costs $6.99 a month.

And Apple has something else to offer the others can't match...

SOUNDBITE (ENGLISH) APPLE CEO TIM COOK, SAYING:

"Starting today, when you buy an iPhone, a Mac, and iPad or an Apple TV, you'll get one year of Apple TV+ included for free."

Investors fear that could spell trouble for Netflix and Disney, shares of both of those companies moved lower.

Streaming media company Roku was hardest hit with a plunge of roughly 12 percent.

Shares of Apple, however, barely moved.

Why? Investors seem underwhelmed by the incremental improvements to the Apple Watch and it's most lucrative product - the iPhone 11.

There were surprises though - ultra-wide angle cameras and two higher-end phones: the iPhone 11 Pro and the 11 Pro Max - topping out at $1100 price tag.

So what do you get for that?

More battery life, says senior marketing VP Philip Schiller.

SOUNDBITE (ENGLISH) APPLE SENIOR MARKETING VICE PRESIDENT PHILIP SCHILLER, SAYING:

"We are so excited to tell you that with iPhone 11 Pro you now can up to four hours longer in your day. And with iPhone 11 Pro Max up to five hours longer in your day."

But is that enough to move the sales needle for the aging star? iPhone sales have been down year over year for the last two reported quarters.

That may be one reason Cook is pushing Apple Arcade, his video game subscription service at just $4.99 a month, along with Apple TV plus. The hope? Create a positive feedback loop where consumers feel the need to upgrade to the latest iPhone and iPad to enjoy a better viewing and gaming experience.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting