Apple announced three new subscription services, including a TV service, gaming bundle, and all-you-can-read magazine subscription on Monday at its campus in Cupertino, California. Apple also announced an Apple-branded credit card in partnership with Goldman Sachs.
Apple stock was down almost 2 percent during intraday trading on Monday after the event.
The iPhone giant is focusing on subscription services at a critical time for the company as it searches for new areas of revenue growth to compensate for stalling iPhone sales.
"We've also been creating a growing collection of world-class services, and that's what today is all about," Apple CEO Tim Cook said on Monday.
Investors and analysts say that Apple's services business, which includes revenue from the App Store and licensing fees in addition to monthly subscriptions, is going to drive the majority of revenue growth over the next few years.