It’s not cheap to churn out a hit show like Severance. Just ask Apple.
A new report from The Information claims the tech company is losing $1 billion a year on Apple TV+, according to two people familiar with the matter.
Since launching Apple TV+ in 2019, the company has reportedly spent $5 billion a year on its award winning streaming content – which includes hits like The Morning Show, Shrinking, Pachinko, and more – before trimming that by about half a billion dollars last year to $4.5 billion.
But the company is better equipped to absorb the loss compared to others, considering Apple TV+ is part of Apple Services, a division which brought in a record the company’s most recent filings. The Services division also includes Apple Music, Apple News+, Apple Books, Apple Fitness, Apple Pay and more.
The Information notes the streamer reportedly has 45
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