The new video service is expected to have original TV shows and movies that reportedly cost Apple more than $1 billion - far less than Netflix and HBO spend every year. The service, which launches Monday, is available in the United States and Canada in English and French.
It follows a week of product news from the company, including new AirPods, a new iMac and a new iPad - begging the question: what will be the focus of the main event?
Amazon may be less vulnerable to new competition because its revenue base comes from the broader base of services and not streaming.
For the iPhone maker, which has spent the previous year neck-and-neck with Amazon and Microsoft as the most valuable business in the world, this has meant a significant slip in revenues.
The news subscription service has been rumored since Apple acquired the news aggregator startup Texture past year. The battery issues are the major concern for the tech giant now owing to the slowing down of the handsets and thus, there is an immediate requirement of clearing the controversial battery issue and find a replacement as soon as possible.
Albatross lifts Knox within one shot of early Valspar lead
Donald has fallen all the way to 919th in the world coming into this week, the time when he could say he was the best long gone. He's playing this year on a medical exemption, giving him 15 starts to earn enough FedEx Cup points to regain full-time status.
Users can watch content on-demand on a variety of devices, from laptops to smartphones and video game consoles. Cheddar previously reported that Apple was working on a gaming-related subscription service.
Another announcement at the event may be a new financial offering. It's expected to unveil a number of new services that highlight its shift into services, including a revamped news service, subscriptions to premium TV channels, and its own original content.
Fans of It's Always Sunny in Philadelphia will be pleased as creator Rob McElhenney and co-star Charlie Day are said to be producing a comedy series about a video game company for the Apple platform. Steven Spielberg, M. Night Shyamalan, Kristen Wiig, and Jennifer Aniston were just a few of the names linked to Apple's service when it was reported early previous year.
Apple Arcade will be available sometime "this fall", according to the company, with pricing and other details still to come.
"It seems fairly obvious they are launching a new video service", said Techsponential technology market analyst Avi Greengart. Walt Disney Co, which bought 21st Century Fox, and AT&T Inc, which purchased Time Warner Inc, plan to launch or test new streaming video services this year. This will offer access to over 200 magazines as well as newspapers like the WallStreet Journal.