Apple expected to launch new video service

Apple is expected to announce Monday it’s launching a new video service that could compete with Netflix and Amazon.

The service is expected to have original TV shows and movies that reportedly cost the company $1 billion – much less than Netflix and HBO spend annually.

Apple is also expected to announce a subscription service consisting of news, entertainment and sports bundled from newspapers and magazines.

The launch comes several years after ‘binge watching’ became a common term used to describe the practice of watching multiple episodes of a television program in rapid succession, typically by means of digital streaming.

The company will be making the announcement at its headquarters in California.