Apple TV+: Tech giant losing over $1 billion a year on streaming, lags behind Netflix, Disney Plus in subscription figures

As per Reuters, while Apple spent more than $5 billion a year on content since the launch of Apple TV+ in 2019, they cut it down to about $500 million in 2024, the report said. While Apple TV+ doesn’t share subscription figures, as per an estimate done by Visible Alpha, it has 40.4 million subscribers till the end of 2024. Corresponding figures for Netflix stands at 301.63 million and Disney+ has 124.6 million users.

READ MORE: Ellen Pompeo reflects on pay disparity on Grey’s Anatomy despite co-star Patrick Dempsey’s 13 failed TV pilots

According to The Information, Apple is losing a lot of money while trying to run their streaming service. The Information reported that all media companies in the market trying to run a streaming service are trying to cope with losses. Apple’s primary income is not their streaming service; it’s the revenue they get from selling gadgets all over the world. Hence, it is not that susceptible to losses incurred by streaming as compared to other streaming platforms.

It’s surprising to see the position Apple finds them in after Severance’s huge success. The show brought in 2 million subscribers in February after its release, making it the best-performing show on the streaming platform. Ted Lasso also got the nod for a fourth season after gaining huge viewership in the first three seasons.

Apple TV+ is currently gearing up for The Studio starring Seth Rogen, Your Friends and Neighbours starring John Hamm and The Stick starring Owen Wilson.

Curated For You

Bondi Beach attacker was from Hyderabad, left India 27 years ago

Dhurandhar Box Office Collection Day 12: Nineteen box office records broken by Ranveer Singh film as its crosses Rs 600 mark worldwide

Dhurandhar Box Office Collection Day 12 Worldwide Update: On day 13, film crosses Rs 420 Cr mark in India; all 11 of its songs top Spotify charts