Apple TV Plus is reportedly losing $1 billion per year

Summary

• Apple TV Plus is losing more than $1bn a year, with the streamer’s 41 million subscribers meaning it is yet to turn a profit as a subscription service.
• It is the only Apple subscription that is not generating money, leading to Apple cutting $500mfromitsinitial$5bn budget for Apple TV Plus content.
• Rumours have suggested that Apple TV Plus was established as a marketing tool to keep consumers tied to the Apple ecosystem, with co-CEO of Netflix, Ted Sarandos, stating that he doesn’t “understand it beyond the marketing”.
• Other services, such as Apple News Plus, Fitness Plus, and Apple Arcade are also reported to be struggling with low usage and profitability.

By Emma Roth

Original Article