Netflix says it will not join Apple TV service

Netflix says it will not join Apple TV service

"These are fantastic, large, well-funded companies with very significant efforts", Hastings said.

The Apple service will resell subscriptions from CBS, Viacom, Lions Gate, as well as offer original productions.

Apple has since ramped up its video programming efforts in the same time. As a part of the streaming platform, Apple will also launch an upgraded TV app that will act as a hub for multiple streaming platforms.

We've also heard that Apple was hoping to bring in other services, including Netflix and Amazon Prime Video, to create channels, allowing users to find all of their content through the Apple service.

"We've always had massive competitors", Hastings added. "We've been competing with Amazon in video streaming".

"You do your best job when you have great competitors", he said, but acknowledged that sourcing original content is getting more expensive.

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Speaking at a press event in Los Angeles, the Netflix chief executive reportedly said that Apple is a "great company" but it had ultimately decided "not to integrate into their services".

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.

Apple will announce the streaming initiative alongside other new products, including a magazine subscription bundle, at the event in Cupertino, California.

Netflix is a relatively small company when compared to Apple. The company declined to comment on Hastings's comments.

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

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