Apple Losing Over $1 Billion Annually on Streaming Service, Report Says

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Apple (AAPL.O) is reportedly losing more than $1 billion annually on its streaming service, Apple TV+, according to a report by The Information on Thursday. The tech giant has invested over $5 billion per year on content since launching the service in 2019 but has cut its content spending by approximately $500 million in the past year.

Apple TV+, known for original shows like “Ted Lasso,” “The Morning Show,” and “Severance,” has struggled to keep up with competitors such as Netflix (NFLX.O), Disney+ (DIS.N), and Amazon Prime Video (AMZN.O) in terms of subscriber count. While Netflix leads the pack with 301.63 million subscribers, Apple TV+ is estimated to have reached 40.4 million subscribers by the end of 2024, according to Visible Alpha analysts.

Despite its struggles, Apple TV+ has been recognized for its quality productions, earning over 2,500 nominations and 538 awards, as highlighted by CEO Tim Cook in a January earnings call. The company has also bundled Apple TV+ with services like iCloud and Apple Music through its Apple One program, and it is available as part of a bundle with Comcast’s Peacock and Netflix at a discounted price of $15 per month.

Meta to Require AI Disclosure for Political Ads Ahead of Canadian Elections

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Meta Platforms (META.O) announced on Thursday that it will require advertisers to disclose the use of AI or other digital techniques in political or social issue ads ahead of Canada’s federal elections. This move aims to combat misinformation and increase transparency in the political advertising landscape.

The new disclosure rule will apply to ads featuring photorealistic images, videos, or realistic-sounding audio that have been digitally altered to show a real person saying or doing something they did not actually say or do. It will also apply to ads showcasing non-existent individuals or fabricated events, altered footage of real events, or misleading depictions of events that may not be accurate.

In November 2023, Meta extended its ban on new political ads following the U.S. election to combat misinformation. The company also prohibited political campaigns and advertisers in regulated sectors from using its generative AI advertising tools. Despite these efforts, Meta had a setback earlier this year when it scrapped its U.S. fact-checking programs amid pressure from conservatives to overhaul its approach to political content.

Additionally, Meta has introduced a feature allowing users to disclose when they share AI-generated content, enabling the platform to label such media accordingly.

Apple Shakes Up AI Leadership to Revitalize Siri Amid Delays

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Apple is restructuring its AI leadership to accelerate improvements to its Siri virtual assistant after facing several months of delays, according to a Bloomberg News report. The changes come as Apple works to enhance its AI capabilities following a series of setbacks, with some Siri updates now not expected until 2026.

Mike Rockwell, the vice president responsible for the Vision Products Group (VPG), will now take charge of the Siri team, marking a significant leadership shift. This move follows concerns from CEO Tim Cook about AI head John Giannandrea’s ability to effectively manage product development in this area. Rockwell, known for his work on the Vision Pro headset, will now report to software chief Craig Federighi, further distancing Siri from Giannandrea’s oversight.

In addition to Rockwell’s new role, Paul Meade, an executive who has overseen hardware engineering for the Vision Pro, will step in to manage the Vision Products Group.

Apple has been working on AI-driven features such as Apple Intelligence, which includes capabilities like rewriting emails and summarizing inboxes. However, the delays in the Siri improvements are a setback in the company’s broader AI strategy.