Netflix and Roku shares drop after Apple introduces subscription TV service at a surprisingly low price.
said the ad-free service will cost $4.99 a month for the whole family. Providing original content via subscription is the company's latest effort to bolster its services business as iPhone sales slow.
Netflix raised the price of subscriptions in January. It now starts at $8.99 a month. The most popular offering costs $12.99, and its premium plan is $13.99. The announcement from Apple comes two months after Netflix's showed a rare loss in U.S. subscribers and a big miss on new international subscriptions. The stock is now down 18% over the past year.
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