HOW TO THINK ABOUT IT

A history of video. Apple's film and programming ambitions started long before streaming services were popularized. Macintosh TV, which debuted in 1993 but never really took off, was a hybrid computer-television that could hook up to a VCR. Then came Apple TV, in 2007, although Steve Jobs often referred to it as a "hobby" project: It was a video and music streaming device, but it never really captured the market like Hulu or Netflix. While Apple’s developed further iterations and even released original video programming, it hasn’t been able to replicate the success of iTunes as a streaming platform.

It's showtime. Investing around $2 billion with today’s launch, Apple is hoping to challenge Netflix and Hulu with an extensive new slate of original content. No pricing information has been revealed yet for Apple TV+, but it’ll include around two dozen series involving heavy hitters like Oprah Winfrey (pictured at today's event), J.J. Abrams, Reese Witherspoon and Jennifer Aniston. And Apple isn’t the only one: Disney (which will own 60 percent of Hulu when its deal to buy Fox goes through) and Warner Media are both expected to launch new streaming services this year. Meanwhile, Google just announced the launch of Google Stadia, a streaming service for video games that will leverage its dominance in the cloud.

Cut that cord. While there has long been speculation that Netflix-loving millennials would abandon cable companies and kill the industry, it might not be something older generations can pin on the young. Instead, the death of cable might come from within that industry itself. Some cable providers are diving deeper into the more profitable broadband internet business. Cable One, for instance, has stopped trying to talk cable-cancellers out of their decision, choosing instead to try and sell them on its own streaming service. While Cable One’s user base pales compared to Comcast, its shares are up 136 percent despite its seeming abandonment of … well, cable.

Or maybe not. Some predict that because 194 million Americans get their internet from cable companies, streaming services will eventually be bundled into those deals the way channels are now. While the streaming era has seemed a ray of hope for those who don’t like depending on TV monopolies for their entertainment, those giants may well be coming back in a different form.

And one, or two, more things. Apple TV Plus wasn’t the only big announcement today. The company also announced the launch of subscription-only apps — Apple News Plus and Apple Arcade (Apple News Plus costs $9.99 a month and includes more than 300 magazines and news publications; no price is available yet for Apple Arcade), as well as the company's own virtual credit card. You can sign up for the Apple Card, which carries no fees, in the wallet app and receive your digital credit card within minutes. There’s a physical card too, made from titanium, but there is no credit card number, CVV code, expiration date or signature — all of that info is stored in Apple Wallet.

WHAT TO READ

With the iPhone Sputtering, Apple Bets Its Future on TV and News, by Tripp Mickle in the Wall Street Journal
“It is the tech giant’s latest attempt to reinvent television, something it has tried to do for about a decade with limited success.”

Jeffrey Katzenberg’s Vision for the Future of TV Is Snackable Movies, by Ashley Rodriguez on Quartz
"Quibi is thinking about content for the platform as feature-length films, two hours or longer, that unfold in eight-or-so-minute chapters, which is roughly the length of act breaks between commercials on traditional TV shows like This Is Us.”

WHAT TO WATCH