Apple TV and Ping

Steve Jobs launched a revamped version of Apple’s (AAPL) “hobby” on Wednesday, a TV service that works over a home’s Wi-Fi network so users can rent Hollywood blockbusters for $4.99 the day they are released or popular TV shows for 99 cents. A partnership with Netflix was also introduced, allowing Netflix (NFLX) customers to stream an older catalog of movies and TV shows for $8.99 a month.
The new Apple TV box will sell for $99, a drastic cut from the $229 the previous version sold for, and it is about a quarter of the size. Jobs, Apple’s iconic CEO, held the Apple TV box in the palm of his hand to dramatically display it’s more compact form. It will be available in about 4 weeks, Jobs said Tuesday

Find more juice on the new Apple TV

At Apple’s annual music event in San Francisco CEO Steve Jobs described “Ping,” part of the iTunes 10 upgrade coming soon, as “sort of like Facebook and Twitter meet iTunes.”

Even the occasionally hyperbolic Jobs may be selling it short. Sight unseen, we’d say Ping — a computer term for making contact — will be more like “Twitter meets Facebook at’s and Rdio’s shared apartment to plan MySpace’s funeral.”

Jobs is correct to compare Ping to Facebook and Twitter, because its settings for deciding who can follow you borrow from both of those well-established networks. You can choose to approve followers and post listening habits to a limited “circle of friends,” the way Facebook lets you, or you can permit anyone at all to follow you, as in Twitter.

Read more about Apple Ping

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