Apple TV+ is losing more than US$1 billion a year, according to a report from The Information (a subscription is required to read the article).
The article says that Apple TV+ is the only Apple subscription service that’s not making money. While its subscriptions grew to around 45 million last year, it is still purportedly losing more than $1 billion annually.
The Information says Apple has spent more than $5 billion a year on content since the service launched in 2019, but this was reduced by $500 million in 2024 in response to a push for cutbacks from CEO Tim Cook and other execs.
The Information notes that the audience for Apple TV+ remains relatively small, constituting less than 1% of total U.S. streaming service viewing compared to Netflix and Amazon 8.2% and 3.5%) in February 2025.
Of course, this needs to be put into perspective. Of course, $1 billion is a lot of money, but ast quarter alone Apple reported $124 billion in revenue, with $36 billion of that being profit. Plus, Apple is playing the long game with Apple TV+. And Apple’s initial business plan for Apple TV+ predicted losses of between $15 billion and $20 billion over its first decade.
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