Apple TV+ Losing Over $1 Billion Per Year Despite Growing Subscriber Base
Apple TV+ is burning through over $1 billion annually, according to a recent report from The Information, despite the broader success of Apple's Services division.
Apple TV+ logo against cloudy background
The streaming service reached approximately 45 million subscribers last year, positioning it between Peacock (36 million) and Hulu (53 million) in terms of subscriber count. This performance comes despite hosting successful shows like "Ted Lasso," "Mythic Quest," "Shrinking," and "Severance," with the latter's second season generating over 3 billion minutes of viewing time according to Nielsen.
While Apple TV+ struggles with profitability, Apple's overall Services category, which includes Apple Music and iCloud storage, reported strong performance with Q4 revenue of $26.1 billion, representing a 14% year-over-year increase. Apple Music particularly maintains a robust market share, positioning itself as a strong competitor to industry leader Spotify.
Apple's stock remains resilient, trading at $216.78 per share with a market capitalization of $3.26 trillion, maintaining its position as the world's most valuable company.
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