According to a report from the website The Information, the Apple TV+ streaming service costs the company over $1 billion per year.
The information was shared with the portal by anonymous sources reportedly involved in the matter. The site also revealed that the big tech has already spent over $5 billion investing in content for the streaming service, which was launched in 2019.
However, the budget for 2024 has been reduced to only $500 million, according to the sources. It’s important to note that this information has not been confirmed by the company’s CEO, Tim Cook.
Estimates suggest that Apple’s streaming service finished 2024 with 45 million subscribers, but the numbers have not been officially disclosed. Netflix, with over 300 million members, remains the market leader.
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