The Apple TV+ streaming service is reportedly still losing a hefty amount of money every year.
According to a report by The Information, Apple is reportedly losing approximately one billion dollars annually from its streaming service. In an effort to cut costs, the tech giant has reduced its annual content expenditure to 4.5 billion dollars (previously 5 billion dollars) and currently boasts around 45 million subscribers. However, further details were not disclosed. Notably, Apple’s Services division, which encompasses Apple TV+, Apple Music, the App Store, and other services, generated a revenue of 26.3 billion dollars during the last quarter of 2024, marking a 14% increase compared to the previous year.
Apple did not comment on the matter.
Despite the streamer suffering significant losses, it’s important to note that Apple reaps the greatest benefits from its iPhone sales. By the end of September 2024, this tech titan had amassed a revenue of $391 billion USD and a net profit of $93.71 million USD.
A large portion of Apple TV+’s programming consists of original shows that have earned awards, like “Ted Lasso,” which was recently extended for a fourth season, and “The Morning Show.” The platform also houses series such as “Severance,” “Killers of the Flower Moon,” and “CODA.
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2025-03-21 12:26