The original programming and streaming subscription are just one part of Apple's larger plan to get into streaming video. It pairs with Apple TV Channels, a storefront for other companies' subscription video-streaming offerings.
The programs are all part of Apple's first big foray into Hollywood. The company is reportedly spending $1 billion a year on its own content. Two years ago, Apple poached Sony executives Jamie Erlicht and Zack Van Amburg, and on Monday, it had them announce the streaming service on-stage.
"The Apple platform allows me to do what I do in a whole new way," said Oprah at the Apple event.
Apple is jumping into the streaming market at at time of ramped up competition and widespread saturation. Powerful media companies like Disney and WarnerMedia, CNN's parent company, are launching streaming services later this year. NBCUniversal, another media titan, is debuting its streaming service next year.
These companies have the resources to bring in subscribers, as well as vast built-in vast content libraries. Apple, on the other hand, has the technical know-how and access to a massive audience of 1.4 billion people using its devices.
Apple is creating a single place where all the content from your various subscription services can live side-by-side. The company is updating its existing TV app and adding the ability to sign into your to various cable and streaming subscription services.
The Apple TV app has been redesigned to look similar to other popular streaming services like Netflix with vertical carousels of content and recommended things to watch next. There are tabs on the top for Watch Now, Movies, TV shows, Sports, Family and Library. Shows from each service you subscribe to -— including Hulu and Prime Video, but notably not Netflix — will appear as if they're all part of the same service, side by side.
The new version will roll out as a software update in May and as a new app on Macs in the fall.
Every purchase needs a fingerprint or face-identification confirmation. For privacy reasons, Apple said it doesn't track where payments are made or for how much. The budgeting features are done on device, and Apple said it will not sell user information to third-parties.
An optional physical card is available, but in typical Apple fashion, it's a laser-etched titanium rectangle. Apple likes to be minimalistic when it comes to design, so there is no expiration date, card number or security code on the card — only in the app. Cook said he believed the card would be "the most significant change in the credit card experience in 50 years."
-- CNN Business' Frank Pallotta contributed to this report