DUBLIN — Apple has finally pulled aside the curtain to reveal its next big bet – a gamble on people' appetite for streaming media content. Apple is hoping that people have room in the budget for a few more subscription services, including an interesting news service, a streaming video service a lá Netflix, and a gaming platform like the one recently launched by Google. It's a bold move, given how highly competitive the streaming space is. Apple will be going head to head with Amazon, Netflix, Google, game giant Steam, and, of course, any number of established old school media businesses. I can't help but wonder if it wouldn't be quicker and simpler for Apple to just buy Netflix. Apple has $245bn in cash on hand. Netflix has a market cap of about $160bn. Apple could buy it outright, in cash, and still have change. Buying Netflix would give it a juicy content library and a big pile of subscribers without the hassle of trying to build all of that itself. However, Apple has always preferred to build things in-house or through small acquisitions of start-ups. So, instead, Apple will direct some of its cash towards building a second Netflix to compete with the one that already exists. – Felicity Duncan

Apple pushes beyond iPhone with launch of TV, finance, gaming, news services

By Tripp Mickle and Joe Flint

(The Wall Street Journal) CUPERTINO, Calif.— Apple Inc. unveiled new products for entertainment, financial services, news and video games as the technology giant vies with competitors that are also moving to expand their disruptive influence outside their core businesses in search of new growth.

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