Lisa Eadicicco/Business Insider
- Apple is holding an event on March 25 at the Steve Jobs Theater on its Apple Park campus.
- Apple sent out invitations to the event on Monday.
- It will likely introduce a new video streaming service and a new subscription news service.
Apple is holding an event on March 25, where it will presumably announce details about a new video streaming service and an upcoming premium news service.
Apple did not disclose any details about what the announcement will entail in its invitation. But the invitation opens with a film-reel countdown, furthering speculation that the company will unveil its long-rumored video service. The event will take place at 10 am PT at the company's Steve Jobs Theater in Cupertino, Calif.
The video streaming service is expected to be a rival to Netflix and Amazon Prime video that will include access to Apple original programs. It's expected to launch this summer, and Apple is said to have invited celebrities such as Jennifer Aniston and Reese Witherspoon to attend the event, according to Bloomberg. Apple is also planning to unveil a subscription news service at the event, as BuzzFeed previously reported, which would come after the The Wall Street Journal reported the company has ran into issues negotiating with publishers over terms that would allow it to keep half of the revenue from subscriptions.
The move will largely 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 recent earnings report that iPhone sales for the holiday quarter fell by 15% compared to the same quarter one year ago while its services business reached an all-time revenue high of $10.9 billion.