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Apple TV+ Reportedly Losing Over $1 Billion USD Per Year
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.Click here to view full gallery at Hypebeast
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.
Click here to view full gallery at Hypebeast
