Apple Inc. is losing more than $1 billion per year on its streaming service, Apple TV+, according to a report by The Information on Thursday.
The report revealed that the tech giant has been spending over $5 billion annually on content since launching Apple TV+ in 2019, though it trimmed this expenditure by approximately $500 million last year.
Despite its critically acclaimed original programming—including Ted Lasso, The Morning Show, Shrinking, and Severance—Apple TV+ has struggled to compete with industry giants like Netflix, Disney+, and Amazon Prime Video in terms of subscriber numbers.
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