In a bid to revamp Apple Inc, the company on Monday unveiled itself as an entertainment and Financial service company, with an online gaming arcade, credit card services as well as the streaming television service.
According to Reuters, Apple TV will offer its original shows and movies as well as a channel from HBO, Starz, and Showtime.
During the unveiling at the Steve Jobs Theater in Cupertino, California, Oprah Winfrey and Hollywood Director, Steven Spielberg made appearances as they both have upcoming projects with the company.
Winfrey disclosed a global book club and two documentaries among her new projects with Apple.
In addition to the Apple TV, the company also announced its free news app with a paid-subscription version of $9.99/ month. The 'Apple News+' app offers a wide range of news articles and magazines including People, Popular Science, Billboard, New Yorker and National Geographic.
Despite the relaunch, investors were not impressed as Apple shares went doen 1.2 percent. Meanwhile, Apple is set for rival streaming services like Amazon, Netflix and Walt Disney Co.