Apple TV+ officially has a launch date and a price tag. 

At an Apple (AAPL - Get Report) event Tuesday, Sept. 10, it was revealed that Apple would be releasing Apple TV+ in November for $4.99 a month. 

At $4.99, Apple's TV+ is less than half the cost of Netflix's (NFLX - Get Report) most popular streaming video plan, its Standard plan which allows for HD streaming on up to two devices at a time. Apple TV+ is also priced lower than the $6.99 at which Walt Disney (DIS - Get Report) plans to offer its new service, Disney+--which will be released later this year.

Jim Cramer said that the $4.99 price point is a selling point for millennials, who "do not want to have too many monthly bills."

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