Netflix rules itself out of Apple's new video service

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Apple is all set to announce its video streaming service on 25 March.

Rumours had suggested this would be the case, and Netflix CEO Reed Hastings confirmed the company's decision to shun Apple's upgraded TV service on Monday. But it now wants to sell the service that people use to watch TV as well. "We have chosen not to integrate with their service". The idea is to combine original content with programming from partners, including HBO and Starz. "So, I have to really reserve comment and judgment", the exec added diplomatically about the heavyweight competition coming to the already crowded digital content space, which Netflix had fully dominated just a couple of years ago. It also does not allow purchasing subscription via its iOS app. Netflix CEO's statement about staying away from Apple's video streaming service hasn't come as a surprise when seen in this context.

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"These are wonderful, large, well-funded companies ... but you do your best job when you have great competitors".

Hastings' confirmation follows experts' prediction that Netflix may not be included in Apple's TV service.

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In contrast to a 15% drop in phone sales reported in its most recent quarterly financial results, Apple's services revenue was up 19% in the most recent figures.

Hastings called Netflix more of a content company, owing to $10 bn spend on content sourcing, as opposed to a technology company as that spend was around $1.2 bn.

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Commentators previously questioned whether Neflix would use Apple's revamped hub to sell subscriptions, similar to Amazon's platform selling HBO and Showtime premium content plans.

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