Apple is rumoured to have sunk $1 billion of investment into the new video streaming service, which will compete directly with Netflix and Amazon Prime Video.
The service will offer a mixture of original content commissioned by Apple, and TV shows and movies from the likes of Nickelodeon, MTV, Vh1.
Original content is rumored to include a revival of Steven Spielberg’s 1985 series “Amazing Stories” and a space drama called “For All Mankind” from Battlestar Galactica creator Ronald D. Moore.
It is not yet known what Apple plans to charge for the new video streaming service.
Rumours have consistently said that owners of Apple devices will be able to stream at least some of the service’s original programming for free.
However, there will also be a monthly subscription component, which is likely to be positioned competitively against Netflix and Amazon Prime – and could be bundled with Apple Music.
The new video streaming service will most likely be integrated directly into the TV app on iOS and Apple TV.
The TV app currently acts as a hub for TV shows from other video streaming services, such as BBC iPlayer, ITV Hub and My5, as well as shows and movies downloaded from iTunes.
There may also be a browser version of the Apple TV streaming service, so people who don’t own an Apple device can watch on a PC.
The other big announcement at tomorrow’s event is reportedly the launch of Apple’s long-rumoured subscription news service.
Described by some as a “Netflix for news”, the Apple News service is said to offer access to popular newspapers and magazines for a fixed monthly fee.
This could include unlimited access to paywalled content from publishers such as The Wall Street Journaland The Washington Post.
However, Apple is reportedly requesting a 50% cut of revenue from the service, as well as access to some subscriber data, which has not gone down well with the publishers involved.
Mark Thompson, chief executive of The New York Times, has hinted that his newspaper will not be involved, claiming that relying on third-party distribution can be dangerous for publishers.
The Apple News subscription service is expected to cost £9.99 a month, and could also potentially be bundled with the company’s existing Apple Music streaming service.