Apple loses more than $ 1 billion per year in its streaming service, the Apple TV+, according to a new report from The information. Apple TV+ is the only service in Apple's portfolio that is not profitable, the report announced.
The company has spent nearly $ 5 billion in content each year since the launch of Streaming Service in 2019, but that number has been brought to $ 4.5 billion in 2024. Apple TV+ is known for original shows such as “severance,” “Ted Lasso,” “The Morning Show,” “Silo,” and “back and forth.”
Despite Apple TV+ Productions earning more than 2,500 award nominations and wins, the streaming service has been caught behind Netflix, Disney+, and Amazon Prime video when it comes to subscribers.
Although Apple has not disclosed how many subscribers its streaming service is, the report said Apple TV+ has approximately 45 million subscribers. For context, Netflix leading the streaming industry with 301 million subscribers.
