Apple’s ambitious push into streaming with Apple TV+ is costing the tech giant more than $1 billion per year, according to a new report from The Information. Despite producing critically acclaimed originals, Apple’s streaming platform is the only service in its portfolio operating at a loss.
Since launching in 2019, Apple has spent heavily to compete with streaming giants like Netflix, Disney+, and Amazon Prime Video. The report estimates Apple poured around $5 billion annually into original content production, though that budget dropped slightly to $4.5 billion in 2024.
Apple TV+ is home to standout original series like “Severance”, “Ted Lasso”, “The Morning Show”, “Silo”, and “Shrinking”. Those titles have helped Apple rack up over 2,500 award nominations and wins — including Emmys and Golden Globes — solidifying the service’s reputation for quality storytelling.
However, critical success hasn’t translated into market dominance. The report pegs Apple TV+ subscribers at around 45 million, a fraction of Netflix’s 301 million global subscribers. Both Disney+ and Amazon Prime Video also continue to pull ahead in audience reach.
Unlike competitors, Apple keeps subscriber numbers under wraps, leaving analysts to estimate the platform’s actual performance. Still, the revenue shortfall underscores the high-stakes nature of streaming — even for a company as profitable as Apple.
While Apple TV+ may not be a financial powerhouse yet, its deep pockets allow it to play the long game. Apple is expected to continue investing in original content to attract viewers, though the report hints that spending may remain controlled.
With streaming wars heating up, Apple faces the challenge of growing its subscriber base while balancing production costs — all without losing the creative edge that has defined Apple TV+.
For now, Apple TV+ remains a prestige player in streaming — but turning that prestige into profit is proving harder than expected.
