Apple TV+ is losing $1 billion every year, per report

Apple TV+ is having a big cultural moment thanks to the popularity of Severance’s second season, which concludes tonight. But leaving its current success aside, a new report claims that the streamer has continued being a money drain for Apple even five years after launch. Wayne Ma writes today at The Information about the state of Apple TV+ as a business, analyzing where the streamer stands in terms of revenue and subscribers after five years. In the heavily-paywalled article, Ma reports that Apple’s losses on TV+ amount to over $1 billion per year. While it’s long been known that the streamer was not yet profitable, this is the first time I can recall that we’ve had a solid number to quantify the losses. The report also claims Apple TV+ had 45 million subscribers last year. It’s unclear, though, how many Apple has added during the current Severance hot streak. For example, a recent Antenna report said the streamer added two million new subscribers in a single month, which was a si ... Read full article.