Disney, Netflix, and Roku Shares All Drop After Apple Streaming Announcement

If there’s one thing Apple isn’t known for, it’s undercutting their competition in price. But that’s exactly what they’ve done with their new streaming service, and people are taking notice.

At the announcement that the company’s new, ad-free streaming service will cost a surprisingly low $4.99 a month, significantly less than other options, stock prices of Netflix, Disney, and Roku all tumbled. Admittedly, Disney took a small dip at 2.76% and Netflix at 3.25%, but Roku fell 12.62%.

Roku’s drop likely stems from the fact that Apple is directly squaring off with their bread and butter – smart televisions. When they announced the price, Apple also revealed that anyone who bought a new iPhone, Mac, or Apple TV will be offered 12 months of Apple TV+ completely free. And naturally, Apple’s TV service is only available on Apple devices.

Of course,  the question is, will Apple’s low price be reflected in its content quality? While a lot is yet to be revealed, we do know that there will be a lot of exclusive content, including works from Jennifer Aniston, Steven Spielberg, Jason Momoa and Oprah Winfrey – with Aniston’s project expected to be the most expensive television show in history.

Apple TV debuts November 1. And if early indications hold true, expect them to continue to shake things up.