Article content

Apple Inc. may have fired the latest shot in the video streaming wars with the announcement of a new service coming later this year, but analysts and money managers appear skeptical that the Cupertino, Calif.-based tech giant and other new entrants in the space will be able to dethrone industry giant Netflix Inc. any time soon.

At Apple’s annual fall keynote, Apple CEO Tim Cook surprised consumers by unveiling that Apple TV Plus, which is set to launch on Nov. 1 in the U.S. and Canada, will only cost US$4.99 per month — well below the US$10 range most were expecting. For consumers who purchase an Apple device, a free one-year subscription will be included.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or 'Gorilla of the group': Streaming wars may be heating up, but Netflix will hold its own, analysts say Back to video

Investors have reacted positively to Apple’s plan, with shares up more than four per cent since the announcement.

Similarly, shares of Walt Disney Co. surged to an all-time high in April after the company announced that it, too, was launching a streaming service, Disney+.