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Apple TV price cut to $69, £59 or AU$109

Today Apple announced it would slash the price of the venerable Apple TV box, along with exclusive access to the HBO Now streaming service.

Now playing: Watch this: Apple TV gets price cut to $69

At the Apple Watch event today Tim Cook announced a price cut on the Apple TV box, bringing it down to $69 in the US and £59 in the UK. In Australia it stays the same at AU$109, due to a downturn in the Australian dollar.

Since its debut in March 2012 the streaming box has sold for $99 in the US.

Although a price cut on old hardware often presages a new device, Apple has not announced an updated Apple TV yet. The reason for the delay in improving the box is rumored to be tied to Apple's ongoing negotiations with TV content providers on a new streaming service, perhaps similar to Sling TV .

Sarah Tew/CNET

However, Apple did announce the arrival of the HBO Now streaming service, coming exclusively to US Apple devices this April for $15 per month, just in time for the .

It will appear as an app on Apple TV separate from the existing HBO Go app, which unlike HBO Now, does require a subscription to a cable TV service.

The Apple TV is our second-favorite streaming box after the Roku 3 , despite its advanced age. It doesn't offer the same breadth of content as Roku, however, and cheaper devices like the Roku Stick, Amazon Fire TV Stick and Google Chromecast are proving to be popular alternatives.

The price cut and exclusive deals like HBO Now could give the ancient Apple TV a new lease on life, while Apple works out that streaming service, but I still think the Roku 3 is a better buy -- it's down to $77 as of yesterday. At some point Apple will have to debut new hardware if it wants to keep up with the competition in the living room.

I know what I'd love to see in the new box -- 4K streaming, a camera with motion capture, a universal remote -- but until we see something new, a price cut alone isn't going to cut it.

Read all of CNET's coverage of the Apple Watch event here.