Apple will launch its Netflix competitor on 25 March

'It's show time': Apple confirms launch event on March 25

The magazine subscription service will be integrated into the existing Apple News app and is based on the company's acquisition of Texture a year ago.

Apple's tagline was also used in 2006 to launch its Apple TV service and movies on iTunes.

Apple announced Monday a media event for Monday, March 25 to divulge details of its new subscription offerings including a video streaming service. This certainly means that the company would be launching its much-rumoured subscription services for video and news. It would be competing directly with the widely popular services like Netflix, Hulu, Amazon Prime, etc. Presumably, the shows Apple has already released on Apple Music, such as Carpool Karaoke and Planet of the Apps, will be on the streaming service, but that isn't clear.

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Some reports said actresses Jennifer Aniston and Reese Witherspoon and "Star Wars" director J.J. Abrams would join Apple at the event. Although the iPhone maker is expected to finally debut its long-awaited Netflix rival at the event, a majority of the content available on the service at launch will be from third-party content providers - not from Apple itself. 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.

The event will take place at 10 a.m. It's unclear what Apple would call the new mid-range iPad. Previously, the company has launched the iPhone SE, the budget $329 iPad and the 9.7-inch iPad Pro.

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