Apple may be losing $1 billion on this business every year

Apple streaming service, Apple TV+, is reportedly still a money drain for the company even five years after its launch. This is despite the streamer having a big cultural moment due to the popularity of Severance’s second season. A report by The Information that analysed the state of Apple TV+ as a business claimed that the Cupertino-based tech giant is still losing over $1 billion per year. However, the report also mentions that Apple TV+ had 45 million subscribers last year while the platform may have also recently added two million new subscribers in a single month.

How Apple may be trying to reduce spending