Apple is losing more than $1 billion a year on its streaming service Apple TV+, the Information reported today, citing two people familiar with the matter.
Apple has spent more than $5 billion a year on content since launching Apple TV+ in 2019 but trimmed that budget by around $500 million last year, the report said.
That is pocket change for Apple. They have so much money they literally don’t know what to do with it.
Do you go around throwing your pocket change into the streets?
So since Apple is probably not just throwing money away… what other reason could they have?
Poor planning?