Ping, as it is known, allows users to erect networks of friends and veteran musicians, in a identical way to services such as Twitter.
The service moreover builds playlists formed on what friends are listening to.
Analysts mentioned it represents a dare to existing music-based amicable networks such as MySpace.
"It's a amicable network all about music," mentioned Mr Jobs, rising the focus at an eventuality in San Francisco.
"We regard this will be unequivocally renouned very swift since 160 million people can switch it on today," he said.
The service will be available by iTunes 10 program on Macs and PCs together with by the iTunes focus on iPhones and the iPod Touch.
Analysts at investigate definite CCS Insight mentioned it represented an "ambitious move" that would present a dare to "ailing MySpace and other amicable networks".
Michael Gartenberg, associate with investigate definite Altimeter group, agreed.
"MySpace is the a that has to look at what this means to them and will may face the paramount contest from Ping in the partial term," he told BBC News.
"They are going to have to figure out a way to tell apart themselves since Apple is already where we am shopping my song and this is a innate extension. You consternation why the song attention collectively hasn't considered of this before."
MySpace has traditionally captivated musicians, who use the site to share their own song and learn other artists. However, its expansion has stagnated.
"Ping destroys whatever was left of MySpace's marketplace share," mentioned Xeni Jardin, co editor of the technology blog Boing Boing. "It waste to be seen what type of contest it poses for Facebook."
But Apple co-founder Steve Wozniak told BBC News that Ping was not about receiving audiences divided from other networks.
"It sounds similar to a subset of Facebook, but Facebook is life and this is music."
Mr Jobs billed it as a new way to learn music.
The service allows users to emanate their own form on iTunes, that sum friends lists, what song they are listening to and that concerts they will attend.
It will moreover uncover a tip 10 list of songs and albums their friends and the artists they follow are downloading from iTunes.
Some features of Ping already exist in services such as Spotify and Last.fm.
However, iTunes is now the largest online song service.
Mr Jobs mentioned that since launch, scarcely 12 billion song marks had been downloaded from the site.
Mr Jobs moreover used the eventuality to deliver an
The initial product has been around since 2007, but has never been a success for Apple. Mr Jobs has in the past described it as a "hobby".
"We've sole a lot of them, but it's never been a outrageous hit," he said.
The new chronicle will usually enable people to lease calm rsther than than purchase it. All shows and cinema will be high-definition.
Initially, it will usually offer TV shows from two studios: Fox and ABC.
"We regard the rest of the studios will see the light and obtain on house flattering swift with us," mentioned Mr Jobs.
It would offer the "largest online library of cinema to lease in the world", he added.
The box will moreover enable US users to river drive-in theatre from let services such as Netflix and access online services such as Flickr and YouTube.
It will moreover river video from other devices, such as the iPad around its Airplay technology, before well known as AirTunes .
Ian Fogg, an researcher at Forrester, mentioned the device incited the normal digital home model on its head.
"Apple's plan is around the person and personal gadgets - the iPhone, the iPod and iPad," he told BBC News.
"The typical technology plan is to have a box with lots of media on it in the home that streams calm to those devices. Instead Apple is enabling people to river their calm from their personal device to a domicile device.
"By carrying out that they have managed to make the Apple TV quieter, not as big and cheaper."
Although the box will be available in 7 countries at launch, TV uncover rentals and Netflix connectivity will usually be available in the US.
The eventuality in San Francisco moreover showed off a new operation of iPods and previewed program updates is to iPad, iPhone and iPod Touch.
The program enclosed an focus called Games Center that allows people to fool around multiplayer video games on their devices.
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