It was only a few weeks ago that Apple (NASDAQ:AAPL) hosted a presentation about its long-rumored video streaming service. Held on March 25, it served as the introduction to four new services from Apple, including its foray into streaming -- Apple TV+. The event was attended by some of Hollywood's elite, including Oprah Winfrey, Jennifer Aniston, and Steven Spielberg.
Disney (NYSE:DIS) held its own presentation last week, finally disclosing details about its streaming offering, which is scheduled to debut later this year. Disney didn't have Hollywood heavyweights promoting its service -- instead, it forwent glitz and glamour for a detail-heavy presentation with Disney executives.
Apple has made a name for itself with its product reveals, but this time the company may have fallen short. Judging by the stock prices of each company in the day following their respective presentations, it looks like the House of Mouse outplayed the house that Jobs built.
Disney's latest blockbuster
During a two-and-a-half-hour presentation, Disney provided a host of details about its ongoing move into streaming, outlining its early and ongoing success with ESPN+ and Hulu and highlighting its upcoming flagship service, Disney+.
In addition to demonstrating its user interface, the company provided clips of some of its original content and a detailed list of programming that will be available at launch. Disney also laid out the financial impact of its focus on streaming over the next five years, including the billions it will be spending to begin the service.
Most important, Disney said the service will debut on Nov. 12 for $6.99 per month or $69.99 per year (or about $5.83 per month). Additionally, the company expects to have between 60 million and 90 million subscribers and believes it will be profitable by 2024.
In the wake of its announcement, Disney stock soared to an all-time high of $130, up 11.5%, on the day after its investor presentation.
Where's the beef?
During its nearly two-hour event, Apple devoted nearly half the time to providing glimpses of several other services that will be available in the coming months. Apple News+, which launched on the same day as the presentation, will provide access to more than 300 magazines and periodicals, and includes content from The Wall Street Journal and Los Angeles Times, all for $9.99 per month.
Apple also introduced several other products, including the Apple Card -- which expands its Apple Pay service -- and Apple Arcade, a subscription mobile-gaming service that will debut later this year. Yet for the most intriguing service, Apple TV+, details were few and far between.
During the segment to introduce Apple TV+, the company spent a great deal of time showcasing some of the original content it has been working on for more than a year.
Apple said its ad-free subscription service would debut sometime this fall, though it failed to provide the most sought-after details, like the price and a specific launch date. Wall Street loathes uncertainty, and even with its star-studded event, Apple shares declined about 1% following its event.
It's all in the details
The iPhone maker confirmed many existing reports and provided titles and clips for many of its upcoming products, but was light on particulars about the upcoming streaming service. On the other hand, Disney provided a host of details for fans and investors alike, including content mix, launch date, pricing, expected subscriber numbers, and when Disney+ is expected to turn a profit.
It looks like Disney just took Apple to school.