According to a report by The Information, Apple TV+ is losing more than $1 billion per year. The company has cut its content production costs from $5 billion to $4.5 billion annually. Currently, it has 45 million subscribers, but still doesn't make much money.
While Apple did not provide a statement, it was reported that its Services division – including Apple TV+, Apple Music, and App Store – will earn $26.3 billion in the latter half of 2024, up 14% compared to the previous year year.
Despite large losses, Apple's biggest revenue source remains iPhone sales. The company earned $391 billion in total revenue and $93.71 million in net profit as of September 2024.
Apple TV+ is known for its original shows like Ted Lasso, which will be renewed for season 4, and The Morning Show.
