Apple is losing more than $1 billion a year on its streaming service Apple TV+, the Information reported today, citing two people familiar with the matter.
Apple has spent more than $5 billion a year on content since launching Apple TV+ in 2019 but trimmed that budget by around $500 million last year, the report said.
*citation needed
They don’t say where they get these numbers other than “two people” cited in a paywalled article.
Apple One has over 1 billion subscribers. I’m sure they can afford a loss leader like that.
The only way to know if this true is if Apple says so or they just stop producing content.