Apple Is Losing Over $1 Billion per Year on Streaming Service, Has 45 Million Apple TV+ Subscribers (Report)

variety.com:

Todd Spangler NY Digital Editor Apple‘s video streaming business is still firmly in the red, according to a new report. The Apple TV+ premium subscription service is losing more than $1 billion per year, according to an anonymously sourced report by The Information published Thursday.

The tech giant is spending around $4.5 billion on content annually, down from $5 billion in past years, according to the article.

Apple TV+ — which features virtually an all-original lineup — has about 45 million subscriber, per the report. Reps for Apple did not respond to a request for comment.

Of course, $1 billion in annual losses are practically a rounding error for Apple in the context of its overall business, which is mostly fueled by iPhone sales.