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| Image Credits: Pavlo Gonchar / Getty Images |
Apple TV+, the tech giant's streaming service, is reportedly losing over $1 billion annually, according to a recent report. Despite investing approximately $5 billion per year on original content since its launch in 2019, Apple TV+ has struggled to achieve profitability. In 2024, the company reduced its spending to $4.5 billion, yet the service continues to lag behind competitors like Netflix, Disney+, and Amazon Prime Video.
With an estimated 45 million subscribers, Apple TV+ falls short compared to Netflix's industry-leading 301 million subscribers. While Apple TV+ has garnered over 2,500 award nominations and wins for shows like "Ted Lasso" and "The Morning Show," its subscriber base remains limited. The report highlights the challenges Apple faces in balancing high-quality content production with subscriber growth in a competitive streaming market.
This financial strain raises questions about Apple's long-term strategy for its streaming service and its ability to compete with established players. As the streaming wars intensify, Apple TV+ must find innovative ways to attract and retain subscribers while managing costs.