Apple to unveil video streaming service

Globally-acclaimed tech giant Apple will next Monday unveil its premier video streaming service.

Speculations have been rife that Apple will step into the video streaming arena to slug it out with top brands like YouTube and Netflix.

There is no clear cut knowledge of how much has been spent on this project, but experts say it could hit the billion dollar mark.

Having branched out from its core operations of phone and computer manufacturing, Apple is not strange to the charted waters of entertainment – it’s App Store and Apple Music has have made profits soar overtime; it now has over 1.4 billion active Apple devices out there.

Apple Music now has over 50 million paid subscribers, and across all of its services, Apple has 360 million subscribers, up 120 million from the previous year.  

All hands will be on deck on Monday when Apple hosts an event at the Steve Jobs Theater on its campus in Cupertino, California, to unveil its long-awaited video offering.

The event kicks off at 10 a.m. PT/1 p.m. ET.