The new lineup of Apple iPhones will be the focus of today’s event, but the future of the trillion-dollar company is about so much more than its most famous device.
Apple is also investing heavily in its media business, growing services like iTunes and iCloud, and is even building a production studio from scratch.
In Apple's services division, which includes Apple Music subscriptions, iTunes media and iCloud storage, revenue was up 27% for the first nine months of the business year, at $27.2 billion. That's far ahead of 15% growth for the iPhone.
Apple has also been inking deals right and left for new original content, much like what Amazon and Netflix are doing in entertainment. Apple will spend about $900 million this year on a roster featuring work from Oprah Winfrey, Reese Witherspoon and Stephen Spielberg. Shows could debut as early as next year.
Analysts say that a service offering Apple Music and Apple Video or a bundled product could cost $9-13, which is in line with similar offerings and bundles from other streaming services.
Read more about Apple's growing media empire here.