CEO confirms Netflix won't be a part of Apple's new video play

Apple TV streaming

Netflix’s Ted Sarandos Chides Apple & Disney For Being “Very Late” To Streaming

A report last week from Bloomberg indicated Apple is planning to launch its new streaming television service with little of its own original content available, but is instead "racing" to finalize deals with networks like HBO, Showtime, and Starz ahead of their March 25 event.

As of yesterday, Apple had risen 8.6%, whereas the NASDAQ Composite (QQQ) (COMP-INDEX) had risen 2.4% and Netflix had risen 1.5%.

The firm plans to let customers sign up for subscriptions to those services from within the TV app, and will take a cut of revenue from those subscriptions.

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Netflix, the largest video streaming service won't be a part of upcoming Apple video services, confirmed Netflix Chief Executive Officer Reed Hastings on Monday. "We have chosen not to integrate with their service". Users can subscribe to any streaming platform they like from within the app.

Hastings said competition is good for Netflix, adding "These are unbelievable, large, well-funded companies ... but you do your best job when you have great competitors".

We will have more details on the new Apple TV streaming service when it is made official at Apple's press event next week.

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Apple is rumored to be launching a new streaming service on Monday, stoking the fire of an already-heated field of streaming competitors. Apple would also have its own original content in its subscription service. Earlier this year, Netflix went global with a policy that bypasses Apple's App Store and, thus, enables the OTT service to avoid Apple's 30% tax on in-app purchases. That's an approach that appears to follow Amazon Channels, the SVoD aggregation service of Amazon Prime, as well as The Roku Channel, which now features free, ad-based movies and TV shows alongside tight tie-ins with dozens of subscription-based video services. They do a good job, I am going to be envious.

Meanwhile, in the United Kingdom, traditional broadcasters are stepping up their effort, with BBC and ITV announcing plans to collaborate on a joint subscription-based streaming service called BritBox, featuring new commissions, recent shows and old British favourites. "We want to borrow those", Hastings added.

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