Streaming is hard, and for most companies that aren’t Netflix, launching your own SVOD streaming service is a difficult way of earning a profit. So it should be no surprise that Apple TV+ isn’t among the profitable streamers either.
A report in The Information on Thursday said that Apple TV+ loses $1 billion on streaming annually, and it’s doing that despite 45 million subscribers. Those are two numbers that, despite launching in 2019, have never been released publicly by Apple. That’s because Apple TV+ is housed within Apple Services, a division of Apple that also includes Apple Music, Apple Fitness, Apple News+, Apple Arcade, Apple Books, and iCloud.
Per the company’s most recent earnings, the three months ending in January saw Apple bring in $124.3 billion in revenue, $26.3 billion of which came from Services, a record for the division. That’s just for one quarter. For the year, Services brought in more than $96 billion.
