Apple TV+ productions have earned more than 2,500 nominations and 538 wins.
Subscribers of Apple TV+ estimated to have reached 40.4 million at the end of 2024
Photo Credit: Unsplash/ Omar Rodriguez
Apple is losing more than $1 billion (roughly Rs. 8,604 crore) a year on its streaming service, the Information reported on Thursday, citing two people familiar with the matter.
The tech giant has spent more than $5 billion (roughly Rs. 43,020 crore) a year on content since launching Apple TV+ in 2019 but trimmed it by around $500 million (roughly Rs. 4,302 crore) last year, the report said.
Apple did not immediately respond to a Reuters request for comment.
Apple TV+, known for original shows such as "Ted Lasso", "The Morning Show", "Shrinking", and "Severance", has lagged behind rivals Netflix, Disney+ and Amazon.com's Prime Video in terms of subscribers.
Industry leader Netflix had a total subscriber count of 301.63 million, according to the latest data, while Disney+ had 124.6 million users followed by Warner Bros Discovery at 116.9 million.
The iPhone maker does not break down the subscribers for Apple TV+ but it is estimated to have reached 40.4 million at the end of 2024, according to five analysts polled by Visible Alpha.
Apple TV+ productions have earned more than 2,500 nominations and 538 wins, CEO Tim Cook said in a post earnings call in January.
As competition heats up in the streaming industry, media companies are increasingly bundling their services at discounted rates to appeal to price-conscious consumers.
Apple TV+ is part of a bundle offered by Comcast that combines the service with Peacock and Netflix at $15 (roughly Rs. 1,290) per month. Apple TV+ costs $9.99 (roughly Rs. 860) per month in the US when bought separately.
The Cupertino, California-based company also bundles Apple TV+ with services such as iCloud, Apple Music, and others under the Apple One program.
© Thomson Reuters 2025
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.