Apple is holding an event on March 25, and it's expected to unveil a video service and a subscription news service.
- Apple is holding an event on March 25 at the Steve Jobs Theater on its Apple Park campus in California.
- Apple sent the invitations on Monday.
- It's likely to introduce a video-streaming service and a subscription news service.
Apple's invitations, sent on Monday, did not disclose any details about the announcement, but they open with a film-reel countdown, furthering speculation that the company will unveil its long-rumored video service.
The event will take place at 10 a.m. PT at the Steve Jobs Theater on the Apple Park campus in Cupertino, California.
Bloomberg described the video-streaming service as a rival to Netflix and Amazon Prime video that would include access to Apple original programs and is expected to launch this summer. Apple is said to have invited celebrities such as Jennifer Aniston and Reese Witherspoon to the March 25 event, according to Bloomberg.
Apple is also planning to unveil the news service at the event, BuzzFeed News reported last month, following a Wall Street Journal report that the company had run into issues negotiating with publishers over terms that would allow it to keep half of the revenue from subscriptions.
The move is likely to be seen as an effort by Apple to boost its growing services business as it grapples with slowing iPhone sales. The company said in its latest earnings report that iPhone sales for the holiday quarter fell by 15% compared with the same quarter a year ago, while its services business reached an all-time revenue high of $10.9 billion.