(Bloomberg) -- Apple Inc.’s new online-TV service is cheap enough to make investors in Netflix Inc., Walt Disney Co. and Roku Inc. nervous.
Shares of those companies declined on Tuesday after Apple announced plans to release its new TV+ streaming platform on Nov. 1 for $4.99 a month. It’s set to launch in 100 countries.
Though Apple only has a limited amount of original programming, the $4.99 price is lower than even Disney+ -- the $6.99 service that’s also due in November. It was considered to be a price leader. Netflix’s most popular tier is priced at $13 in the U.S.
Netflix fell as much as 2.9% to $285.72, while Disney dipped 1.7% to $136.49. Roku, which makes a competing set-top box to Apple, was hardest hit. It dropped 6.6% to $150.46.
©2019 Bloomberg L.P.
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