Apple TV+ Reportedly Losing Over $1 Billion USD Per Year
The streaming service is currently home to award-winning titles such as ‘Ted Lasso’ and ‘Killers of the Flower Moon.’
The Apple TV+ streaming service is reportedly still losing a hefty amount of money every year.
Variety cites a report from The Information stating that Apple is losing over $1 billion USD a year on its streaming service. The company has decreased its annual content spending down to $4.5 billion USD (from $5 billion USD) a year, and currently has around 45 million subscribers. Additional metrics were not revealed, however Apple’s Services division — which covers Apple TV+, Apple Music, the App Store and others — earned $26.3 billion USD during the year-end 2024 quarter, up 14% year over year.
Apple did not comment on the matter.
While the streamer’s loss is substantial, Apple still profits the most from its iPhone sales. The tech giant earned $391 billion USD in revenue with a net profit of $93.71 million USD during the end of September 2024.
Most of Apple TV+’s offerings are original content which includes award-winning titles such as Ted Lasso, which was recently renewed for a fourth season, and The Morning Show. The platform is also the home of Severance, Killers of the Flower Moon and CODA.
