Disney & Netflix Stocks Plummet After Apple+ Unveils $4.99 Price
Apple just shook up the entire streaming world by unveiling the price point for their new streaming service, and almost immediately their competitors took a major hit.
Apple CEO Tim Cook led the Apple Special Event Tuesday afternoon from Apple HQ in Cupertino, CA.
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Along with unveiling the new Arcade, a new iPad and a new watch ... Cook revealed the price for their highly anticipated streaming service, Apple+.
$4.99
That's it -- a family subscription will only cost $4.99 per month, and include access to upcoming shows like, "The Morning Show," "Dickinson," and a new Jason Momoa movie called, "See."
Cook also announced that anyone who purchases an iPhone, iPad or Mac computer will get Apple TV+ service for free for one year.
People immediately took to social media to express their joy in seeing such a low price, especially considering the $12.99 Netflix carries.
Within moments of the announcement, Apple's competitors took a major blow.
Both Netflix and Disney's stock plummeted to a session low, and still have not recovered from the dip.
Disney went down 1.93% to $136.17 per share, while Netflix saw a bigger dive of 2.37% to 287.36
Apple's stock, however, has seen a quick rise of .12% to 214.43 per share.
Many savvy fans jumped on the dive, announcing on Twitter that they were scooping up shares of Disney while they were low.
While many praised Apple for their low price, others pointed out that the streaming platform will only have 7 shows ... compared to the extensive libraries of the other services.
"$5 for less than 10 shows, can people not read?" one Twitter user declared.
Regardless of how much content Apple is initially offering, there's a good chance they will be adding more to their lineup ... and as long as they don't drive up the price it appears people will be here for it.
