In video streaming wars, Apple says it can coexist with Netflix

Far from being a Netflix Inc killer, Apple Inc envisions its forthcoming Apple TV+ streaming service as one that could sit alongside other services that viewers buy, Apple Chief Executive Tim Cook said on Tuesday. Apple in March said it will launch a streaming service with original content from big names including Oprah Winfrey and Steven Spielberg. It plans to spend $2 billion on programming but has not said how much the service will cost.

Investors are keeping a close eye on Apple`s television efforts because subscription services are an increasingly important part of its financial results as iPhone sales decline.  Apple is entering a crowded field, including Walt Disney Co`s $6.99 per month service launching this fall. At the other end of the price spectrum, Alphabet Inc`s YouTube this month said that it was raising the price of its YouTube TV online service, a cable-like bundle of more than 70 channels, to $49.99 per month.

On a conference call with investors on Tuesday, Cook indicated that Apple will not try to give viewers everything they want. "There`s a huge move from the cable bundle to over-the-top," Cook told investors during a call on Tuesday, referring to streaming television services delivered over the internet rather than a traditional cable service.

"We think that most users are going to get multiple over-the-top products, and we`re going to do our best to convince them that the Apple TV+ product should be one of them."