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Apple is reportedly facing significant financial losses in its Apple TV+ business, primarily due to the high costs associated with producing its original films and TV shows for streaming. A paywalled report from The Information reveals that the tech giant is losing over $1 billion annually, a result of its substantial investment in content. Despite efforts to reduce spending in 2024, Apple only managed to cut costs by about $500,000, leaving the yearly expenses at $4.5 billion compared to the previous $5 billion since the launch of Apple TV+ in 2019.
The quality of Apple TV+'s original programming is undeniable, earning high praise from both critics and audiences. Shows like Severance, Silo, and Foundation are visually stunning and narratively compelling, reflecting Apple's commitment to excellence rather than cost-cutting. This dedication to quality is evident in the critical acclaim these shows receive; Severance, for instance, boasts a 96% critics score on Rotten Tomatoes following its Season 2 finale and has been renewed for a third season. Similarly, Silo holds a 92% score, and the newly premiered Seth Rogen-led comedy, The Studio, has garnered an impressive 97% critics score after its debut at SXSW. Other notable hits on the platform include The Morning Show, Ted Lasso, and Shrinking.
Severance Season 2 Episodes 7-10 Gallery
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This focus on high-quality content appears to be paying off in terms of subscriber growth. According to Deadline, Apple TV+ added an additional 2 million subscribers last month during the run of Severance. With Apple generating $391 billion in annual revenue for its fiscal 2024, the company is likely to continue investing heavily in its streaming service, despite the current financial losses.
