Apple is reportedly incurring annual losses exceeding $1 billion (roughly Rs. 8,604 crore) on its Apple TV+ streaming service, according to a report by The Information. Citing sources familiar with the matter, the report highlights the challenges Apple faces in competing with industry giants despite significant investments in original content.
Since its launch in 2019, Apple has spent more than $5 billion (roughly Rs. 43,020 crore) annually on content for Apple TV+. However, in an effort to cut costs, the company reduced this expenditure by around $500 million (roughly Rs. 4,302 crore) last year. Despite producing critically acclaimed shows such as Ted Lasso, The Morning Show, Shrinking, and Severance, Apple TV+ continues to trail behind streaming powerhouses like Netflix, Disney+, and Amazon Prime Video in terms of subscriber count.
According to the latest industry data, Netflix remains the dominant player with a total of 301.63 million subscribers. Disney+ follows with 124.6 million users, while Warner Bros. Discovery boasts 116.9 million. In contrast, Apple has not officially disclosed its subscriber numbers, but analysts estimate that Apple TV+ had reached approximately 40.4 million subscribers by the end of 2024.
Despite its smaller user base, Apple TV+ has gained recognition in the entertainment industry, earning over 2,500 award nominations and securing 538 wins. During a post-earnings call in January, Apple CEO Tim Cook highlighted these achievements, emphasizing the platform’s commitment to high-quality storytelling. However, with mounting losses and intense competition, Apple may need to reassess its long-term strategy for the streaming service.
