San Jose: The global revenues from streaming video services will reach $159 billion in 2024 -- more than double the figure of $68 billion in 2018. In 2019, the global revenue total is projected to reach about $85 billion, says latest data from Digital TV Research.
Apple is not far from the reality and is set to give a mega push to its Apple TV+ subscription TV service that will take popular platforms like Netflix, Amazon Prime and Hulu head on.
According to a report in The Financial Times, Apple has committed $6 billion to its original TV shows and movies budget for its upcoming Apple TV+ service.
This is a huge jump in Apple's budget for original shows as the company earlier set aside $1 billion for bringing renowned creators and actors to its platform.
The on-demand subscription service will come with brand new programming from the world's celebrated artists including Oprah Winfrey, Steven Spielberg and others.
Earlier in March, it was announced that Apple's on-demand subscription service will start in over 100 countries this fall.
Apple TV+ is expected to go live about the same time when Disney unveils Disney+ service on November 12.
Disney will charge $6.99 a month for Disney+, or $12.99 a month for a bundled package that also includes Disney-owned ESPN+ and Hulu's ad-supported streaming TV offering, say reports, adding that Apple TV+ may debut at $10 per month by November.
Apple in March announced its first-ever game subscription service called Apple Arcade that will feature over 100 new and exclusive games, including original releases from renowned creators like Hironobu Sakaguchi, Ken Wong and Will Wright.
Apple Arcade is also slated to launch in fall 2019 in more than 150 countries from a new tab on the App Store across iOS, macOS and tvOS.
"We are working with some of the most innovative game developers in the world to create over 100 new and exclusive games to play across iPhone, iPad, Mac and Apple TV," said Phil Schiller, Apple's Senior Vice President of Worldwide Marketing.
"Apple Arcade games will be great for families, respect user privacy and will not have ads or require any additional purchases," he added.
The App Store currently has nearly 300,000 free and paid games.
With the simplicity of a single subscription, Apple Arcade will bring games to the App Store's more than one billion gaming customers.