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Apple Is Losing Over $1 Billion per Year on Streaming Service, Has 45 Million Apple TV+ Subscribers (Report)
Apple TV+ is reportedly losing more than $1 billion per year as the company is spending $4.5 billion on content annually.
The Apple TV+ premium subscription service is losing more than $1 billion per year, according to an anonymously sourced report by The Information published Thursday. Of course, $1 billion in annual losses are practically a rounding error for Apple in the context of its overall business, which is mostly fueled by iPhone sales. Shows on Apple TV+ include Emmy-winners “Ted Lasso” starring Jason Sudeikis (recently renewed for Season 4) and “The Morning Show,” as well as “Severance,” “Silo,” “Shrinking,” “Bad Sisters,” “Slow Horses,” “Disclaimer,” “Presumed Innocent,” “Hijack,” “Loot,” “Palm Royale” and “Masters of the Air.”
Or read this on Variety