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Apple last night entered the online video arms race with its own TV streaming service as it hunts for growth outside of its core iPhone business.

In a flurry of announcements at its Silicon Valley headquarters, the tech giant also unveiled its own credit card in a major push into financial services, released a paid-for magazine subscription app and announced a subscription service for iPhone games.

The string of new services marks Apple’s attempt to move beyond its flatlining hardware division and generate more revenues from monthly subscriptions and software.

The centrepiece of the announcement was Apple TV Plus, the result of a billion-dollar investment in original content and a years-long attempt to woo Hollywood. Stars including Steven Spielberg, Oprah Winfrey and Jennifer Aniston  appeared at last night’s event to unveil the service.

Titles will include The Morning Show, a drama set around a TV chat programme, and Amazing Stories, a reboot of Mr Spielberg’s Eighties fantasy series, when the service launches in the autumn. Apple did not announce a price.

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