Apple loses more than $1 billion a year from its streaming service. Reported information On Thursday, I quoted two people who are familiar with the issue.
Tech Giant has spent more than $5 billion a year on content since launching Apple TV+ in 2019, but last year it trimmed for around $500 million.
Apple did not immediately respond to Reuters' request for comment.
Known for original shows such as “Ted Lasso,” “Morning Show,” “Shrink,” and “Retirement,” Apple TV+ is behind rivals Netflix, Disney+ and Amazon Prime Video from a subscriber perspective.
According to the latest data, industry leader Netflix has a total subscriber of 336.3 million, while Disney+ has 124.6 million users followed by 116.9 million Warner Bros Discovery.
The iPhone maker does not break down Apple TV+ subscribers, but it is estimated that it reached 40.4 million at the end of 2024, according to five analysts voted by the visible Alpha.
Apple TV+ Productions has received over 2,500 nominations and 538 wins, CEO Tim Cook said in a January post-revenue call.
As competition in the streaming industry grows, media companies are increasingly putting together services at discounted rates to appeal to price-sensitive consumers.
Apple TV+ is part of a bundle offered by Comcast, combining the service with Peacock and Netflix for $15 a month.
Apple TV+ is $9.99 per month in the US when purchased individually.
The Cupertino, California-based company also bundles Apple TV+ with services such as Icloud and Apple Music under the Apple One program.
