By Joy Baba-Yesufu
Apple Inc. is reportedly losing more than $1 billion per year on its streaming service, Apple TV+, despite heavy investment in original programming, according to a new report by The Information.
Since its launch in 2019, Apple has spent over $5 billion annually on content, though the company scaled back its spending by approximately $500 million last year.
Despite producing critically acclaimed shows such as Ted Lasso, The Morning Show, Severance, and Shrinking, Apple TV+ continues to struggle against industry giants like Netflix, Disney+, and Amazon Prime Video, particularly in subscriber growth and retention.
Apple’s losses highlight the intense competition in the streaming industry, where massive budgets and an expanding content library are key to securing market dominance. While Apple TV+ has built a reputation for high-quality, award-winning content, it remains to be seen whether the platform can achieve profitability in the long run.
