Apple TV+ Price Will Start At $4.99 A Month, Launch Nov. 1

Apple Inc.'s AAPL streaming service Apple TV+ will cost just $4.99 a month, Apple CEO Tim Cook announced at the company's new product event Tuesday.

"That's crazy," Cook said of the cost, which is lower than many expected. The company announced in the spring it would create the streaming service as it seeks to connect with others in the industry, including Netflix Inc. NFLX.

Shows will begin streaming on the service starting Nov. 1, Cook said after previewing one of the shows, called "See" about a world in the future where humans have lost the ability of sight.

Cook also announced that customers who buy other Apple projects, such as an iPhone, iPad, Mac or Apple TV, they'll get a year subscription to Apple TV+ for free. The service will be available in more than 100 countries, he said. Through Family Sharing, up to six family members can share one Apple TV+ subscription.

Apple's stock traded up marginally Tuesday afternoon, while Netflix and Walt Disney Co DIS came under selling pressure.

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