Apple’s live TV streaming service has now been put on hold. CBS president Les Moonves said at the Business Insider’s Ignition conference in New York that Apple was “looking for a service” but has ultimately decided to put it on the back burner.
Rumors about Apple launching a live TV streaming service have making rounds since quite some time now. This service would have been similar to Apple’s music service (Apple Music) but for Movies or TV shows. However, Apple is putting its plans for the streaming service on hold because the cable companies and networks weren’t very happy with what Apple was offering them. According to Bloomberg, Apple intended to offer its 14 or so channels at about $30 to $40 a month. Which is much less compared to the traditional cable which offers about $85 for a similar number of channels.
According to The Wall Street Journal, Apple planned to release this service back in June but wasn’t able to deliver it.
It is believed that Apple might completely let go of the streaming service idea as it now wants to focus on its App Store instead, where media companies can develop their own apps and market them directly to customers.
Nevertheless, we really hope that Apple is able to negotiate a deal with the cable companies and we are able to enjoy its streaming service sometime in the near future.