Apple is losing more than $1 billion per year on its streaming service, Apple TV+, according to a new report from The Information. Apple TV+ is the only service in Apple’s portfolio that isn’t profitable, the report reveals.
The company has spent around $5 billion on content each year since the streaming service launched in 2019, but brought that number down to $4.5 billion in 2024. Apple TV+ is known for original shows like “Severance,” “Ted Lasso,” “The Morning Show,” “Silo,” and “Shrinking.”
Despite Apple TV+ productions earning more than 2,500 award nominations and wins, the streaming service has lagged behind Netflix, Disney+, and Amazon Prime Video when it comes to subscribers.
Although Apple doesn’t disclose how many subscribers its streaming service has, the report states that Apple TV+ has an estimated 45 million subscribers. For context, Netflix leads the streaming industry with 301 million subscribers.
Read the full article here