Apple Inc.'s losses generated through its streaming service Apple TV+ have reached $1 billion per year, The Information reported on Thursday.
According to a source familiar with the matter, Apple has invested approximately $5 billion in the content featured on Apple TV+ each year since the platform debuted in 2019. However, in 2024, the tech giant reduced the budget for it by about $500 million in 2024, indicating potential issues. Another source added that, despite a significant growth in the number of subscribers, a monthly fee of $6.99 and fewer product offerings compared to other platforms have not contributed enough to mitigating the losses.
Apple recently posted its first-trimester earnings and hailed the period as the "best quarter ever." It reported 25 million regular subscribers and an additional 50 million users trying it out in a promotional period.
