Apple’s streaming TV service won’t arrive until sometime in 2016

The firm had deliberate to introduce the service, which is delivered over the Internet, this yr.

Apple Inc (AAPL.O) will delay its live TV service to at the very least next yr, Bloomberg reported, citing individuals conversant in the iPhone maker’s plans. They asked not to be identified because the talks are private.

The report claims that talks with major TV networks such as CBS and 21st Century Fox are progressing, but at a very slow place.

Apple Inc.is trying to work out contracts with cable networks for its new live streaming…

Television programming is a key part of Apple’s strategy to use music, information and entertainment to keep the company and its devices at the centre of people’s digital lives. That’s roughly half of the average cable bill in the US.

According to the report, attempts to finalize some sort of deal with CBS, Fox, and NBC have been stymied for the past few months.

Licensing negotiations with programming providers has proved a stumbling block for others hoping to create alternatives to traditional TV.

News of the streaming service surfaced earlier this year.

Apple has delayed plans for a live streaming TV option until sometime in 2016. Shares have fallen 13 per cent since reaching this year’s high of $US133 on February 23.

A TV service may generate $2 billion to $3 billion in revenue by 2018, said Daniel Ives, an analyst at FBR Capital Markets.

Tim Cook wants to be this guy one day.

The source also mentioned that Apple apparently doesn’t have enough network capacity just yet. “Plus, the service would be awful”. In March, Apple cut the price on its current streaming-media box from $99 to $69, signaling that the company may be clearing out old inventory ahead of a newer version coming down the pipeline.

Akamai CEO Tom Leighton declined to say whether the company’s increased spending was tied to an Apple TV service.

But the report does confirm that Apple will introduce next-generation Apple TV hardware at a special event on September 9.