Apple is losing more than $1 billion a year on its streaming service Apple TV+, the Information reported today, citing two people familiar with the matter.
Apple has spent more than $5 billion a year on content since launching Apple TV+ in 2019 but trimmed that budget by around $500 million last year, the report said.
This is not true. According to a 2022 Press Release, Apple has 900 million paid subscriptions across ALL Apple services. Many of which are App Store-based subscriptions for third party services. The figure also includes things like Apple Care and Apple Financial Services.