The company has partnered with several publications like The New York Times, Washington Post, Wall Street Journal, etc. It will be held in the Steve Jobs Theater at Apple's Cupertino, California, headquarters.
Apple is also in discussions with HBO, part of AT&T Inc-owned WarnerMedia, to become part of the service and it could yet make it in time for the launch, according to a person familiar with the matter. It's essentially like a Netflix for News. However, the partnership does not seem to be going smoothly as the report mentions that publishers are not happy with Apple's 50 per cent revenue cut from the service, making them hesitant to finalise the deal.
However, it's possible Apple may announce at least one new updated piece of hardware into the March 25 event.
Apple, which recently stopped disclosing iPhone unit sales data, is increasingly trying to turn investors toward the long-term value of its services ecosystem.
Interestingly, the Wedbush note paints Apple's March 25 announcement as merely "the drumroll" to something much bigger - a major "transformative" content acquisition sometime this year that immediately vaults Apple into the top tier of contenders in the streaming arm's race.
The video service, which is created to rival offerings from Netflix Inc. and Amazon.com Inc., will couple Apple-developed or funded TV shows and movies with the ability to subscribe to content from providers like Starz, Bloomberg News reported last month. Think Netflix, but for journalism.