Apple could soon bundle its subscription services into one big media package to boost its subscriber base.
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The iPhone maker is considering a single subscription package for its Apple TV+, Apple Music and News+ services as soon as 2020, Bloomberg reported. The move to offer paid internet services could boost its consumer base amid sluggish iPhone sales, sources close to the matter told the news outlet.
Apple's potential subscription bundle could be an attempt to advance in the ongoing streaming wars as more companies compete with the likes of Netflix for paid viewership. Disney's new streaming service Disney+ launched Tuesday when it nearly "broke the internet" with 10 million sign-ups. To compare, Disney-owned Hulu garnered more than 28 million subscribers in May, and Netflix said it amassed more than 60 million paid subscribers domestically in April.
The tech giant debuted Apple News+ in March, which offers subscribers paid access to dozens of publications, such as the Wall Street Journal, the New Yorker, GQ and People for $10 a month, and Apple TV+ launched earlier this year offering subscribers access to its library for $5 a month.
Despite Apple’s effort to diversify its content offerings, Apple Music is still the company’s most in-demand subscription, with 60 million people paying for the service, the company's senior vice president of services Eddy Cue confirmed in June.
Under the Apple News+ deal, Apple keeps half of the money from subscriptions, while newspapers and media companies get the other half. But if it does roll out a bundle subscription service, media publishers would earn less money if the cost of its news service is reduced, sources told Bloomberg.
Under the deal media companies can opt out of the service after a year, a source told Bloomberg.