Apple Inc. is losing more than $1 billion per year on its streaming service, Apple TV+, according to a report by The Information on Thursday.
The report revealed that the tech giant has been spending over $5 billion annually on content since launching Apple TV+ in 2019, though it trimmed this expenditure by approximately $500 million last year.
Despite its critically acclaimed original programming—including Ted Lasso, The Morning Show, Shrinking, and Severance—Apple TV+ has struggled to compete with industry giants like Netflix, Disney+, and Amazon Prime Video in terms of subscriber numbers.
Netflix leads the market with 301.63 million subscribers, followed by Disney+ at 124.6 million and Warner Bros. Discovery at 116.9 million. While Apple does not disclose Apple TV+ subscriber figures, analysts estimate the service had around 40.4 million users by the end of 2024.
Apple TV+ productions have garnered over 2,500 award nominations and 538 wins, CEO Tim Cook noted in the company’s earnings call in January.
As competition intensifies, streaming platforms are increasingly bundling their services to attract price-conscious consumers. Apple TV+ is included in a $15-per-month bundle with Peacock and Netflix through Comcast, while a standalone subscription costs $9.99 per month in the U.S. The service is also available as part of Apple’s Apple One package, which includes iCloud, Apple Music, and other offerings.
