Apple TV+ Faces $1 Billion Annual Loss Despite Subscriber Growth

The streaming service, part of Apple's broader ecosystem strategy, struggles to compete with industry leaders despite critical acclaim and recent success with 'Severance.'

Apple TV+ loses over $1 billion annually, with a subscriber base of approximately 45 million as of 2024, far behind competitors like Netflix and Disney+.
Apple has spent over $5 billion annually on content since 2019 but reduced its budget by $500 million in 2024 to curb losses.
The service accounts for less than 1% of U.S. streaming viewership, with limited marketing efforts contributing to its challenges in gaining traction.
Despite financial losses, Apple TV+ has achieved critical acclaim, earning over 2,500 award nominations and 538 wins, including an Oscar for 'CODA.'
Apple positions Apple TV+ as a tool to strengthen its ecosystem, with losses anticipated as part of its initial decade-long business plan predicting up to $20 billion in deficits.