Not to be outdone by the likes of Netflix and Disney, Apple has just announced the launch date for its upcoming streaming service, as well as a highly competitive price point. During the recent Apple event, it was revealed that Apple TV+ will launch on November 1 and will cost $4.99 per month. That makes it one of the cheapest marquee streaming services on the market and signals that the streaming wars have truly begun.

According to Apple, the service will launch in more than 100 countries and regions. The company's plans to enter the direct-to-consumer content space were first revealed in March. Creators such as Steven Spielberg, J.J. Abrams, Oprah Winfrey and many more big-names have signed up to create content for Apple TV+. Zack Van Amburg, Apple's head of Worldwide Video, had this to say in a statement.

"With Apple TV+, we are presenting all-original stories from the best, brightest and most creative minds, and we know viewers will find their new favorite show or movie on our service. Each Apple TV+ original offers its own unique story, fresh perspective and powerful message, all meant to entertain, connect and inspire cultural conversations."

Starting on September 10, those who purchase a new iPhone, iPad, Apple TV, Mac or iPod touch will receive one year of Apple TV+ for free. On November 1, shows such as Jennifer Aniston and Reese Witherspoon's The Morning Show, and Jason Momoa's See, as well as For All Mankind, The Elephant Queen and Dickinson will all be available. It isn't clear at this time whether or not Apple will do full season binge dumps, ala Netflix, or if they will go one episode at a time. Jamie Erlicht, Apple's head of Worldwide Video, had this to say in a statement.

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"Apple TV+ is an unprecedented global video service with an all-original slate. We look forward to giving audiences everywhere the opportunity to enjoy these compelling stories within a rich, personalized experience on all the screens they love."

One of the key elements of this announcement is the one-up going on over Disney. With Disney+ set to launch on November 12, Apple TV+ will beat them to market. Not only that, but one of the main selling points of Disney+ was the attractive $6.99 per month price, which Apple has undercut. In both cases, these services will be far cheaper than Netflix, which currently runs $12.99 per month for its most popular plan. And that's perhaps the larger point.

With more and more media companies entering into this space, things are going to get fiercely competitive. Netflix has 150 million subscribers worldwide and is the king of the hill in that respect, but what WarnerMedia's HBO Max and an NBC-branded streaming service coming next year from Comcast, it's only going to get more crowded. Consumers are going to have tough choices to make. This news was previously reported by CNBC.

Ryan Scott