Streaming TV is about to raise its game as Apple TV+ launches in 100 countries, with big names and exclusive content.

The new streaming service has nine shows, including Reese Witherspoon and Jennifer Aniston's The Morning Show, Oprah Winfrey’s book club and a remake of Steven Spielberg's anthology series Amazing Stories.

In a bid to lure in subscribers Apple has aggressively undercut its rivals with a monthly subscription of just $4.99 per month, verses Netflix’s $8.99 Basic streaming plan. Plus, consumers who buy an iPhone, iPad, Mac or Apple TV, will get one year's subscription free.

Apple’s move into video streaming is one of a range of new services, which the company hopes will replace declining smartphone revenue, which fell 9 per cent last quarter. So far so good, as overall revenue is up with its services division climbing 18 per cent to $12.5bn.

However Apple TV+ faces tough competition as the streaming market reaches saturation point. Earlier this week WarnerMedia announced HBO Max is coming in May 2020, while Disney+ launches on November 12.

Both have an impressive catalogue, with Disney+ offering classic titles such as Star Wars and Marvel, alongside new movies and TV series for $6.99 a month. HBO Max is charging more than rivals ($14.99 per month) but content is premium with the likes of Game of Thrones, Harry Potter and Friends.

Can Apple TV+ take on such major titles? Only time will tell. According to Apple’s senior vice president and chief financial officer Luca Maestri, their streaming service is part of a long-term plan: “We feel very optimistic about how these businesses will return over time.”