Apple also announced a much needed update to iLife apps including iMovie, iPhoto and GarageBand. One of the most interesting is a new iMovie Theatre that is available across you movie, desktop devices as well as the AppleTV.
While some had hoped today would be launch of Apple TV (as in the TV from Apple, not a STB), this is clearly not going to happen now.
iMovie theatre is your one stop shop to watch movies, trailers, TV shows, basically any video content from Apple.
The iMovie update also delivers an updated interface and simplified way to manage video speeds, particularly useful with the iPhone 5S slow motion mode.