According to a recent report by The Information, Apple’s streaming service, Apple TV+, is incurring losses of over $1 billion annually. Notably, Apple TV+ is the sole unprofitable service within Apple’s portfolio, as revealed by the report.

Since its launch in 2019, Apple has allocated approximately $5 billion yearly for content creation, with a reduction to $4.5 billion in 2024. The platform is recognized for its original content, including popular shows such as “Severance,” “Ted Lasso,” “The Morning Show,” “Silo,” and “Shrinking.”

Despite the critical acclaim of Apple TV+ productions, which have garnered over 2,500 award nominations and wins, the service trails behind major competitors like Netflix, Disney+, and Amazon Prime Video in terms of subscriber numbers.

Although Apple does not publicly disclose the exact number of subscribers to its streaming service, the report estimates that Apple TV+ has around 45 million subscribers. To put this into perspective, Netflix currently leads the streaming industry with a substantial 301 million subscribers.