Apple has just announced a new video streaming service to rival Netflix 5 months ago

Apple has just announced a new video streaming service to rival Netflix

Will Netflix's reign come to an end?

Apple has announced a new streaming service called Apple TV+ in which subscribers will only pay for the channels they want.

Announced at Monday's Apple Event, the new service will allow viewers to pay for only what they watch, watch shows offline as well as on, and share shows with family.

The service will be available as a redesign of the currently existing Apple TV app, and will come to iOS devices in May and Mac later in the year.

It will be available on smart TVs as well as streaming devices from Roku and Amazon. Subscribers will be able to buy channels individually - called Apple TV Channels - as well as being able to stream services like Amazon Prime Video.

Present at the launch was director Steven Spielberg, who revealed that his new show would be available on the service.

At the event, held at Apple's campus in Cupertino, California, also saw a host of further announcements.

The company unveiled Apple Arcade, a gaming service which will host games not seen on any other mobile devices.

Apple News+ is a new premium version of the Apple News app which will see magazine content available for the first time, while the company also revealed that it would be releasing a credit card called, you guessed it, the Apple Card.