Apple is reportedly facing significant financial losses in its Apple TV+ business due to the high costs associated with producing premium films and TV shows for streaming. According to a paywalled report by The Information, the company is losing over $1 billion annually due to its substantial investment in original programming. Despite efforts to reduce spending in 2024, Apple only managed to cut costs by about $500,000, bringing the total expenditure to $4.5 billion, down from the $5 billion it had been spending each year since launching Apple TV+ in 2019.
The quality of Apple TV+'s original content is undeniable, earning high praise from both critics and audiences. Shows like Severance, Silo, and Foundation are prime examples of the platform's commitment to excellence, with nothing about their production suggesting budget constraints.
Severance Season 2 Episodes 7-10 Gallery
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This dedication to quality is reflected in the critical acclaim these shows receive. Severance, recently renewed for a third season following the Season 2 finale, boasts an impressive 96% critics score on Rotten Tomatoes. Silo is not far behind with a 92% score. Apple's upcoming show, The Studio, a meta-comedy led by Seth Rogen that premiered at SXSW, also enjoys a stellar 97% critics score. Other hits on the platform include The Morning Show, Ted Lasso, and Shrinking.
According to Deadline, Apple TV+ saw an increase of 2 million subscribers last month during the run of Severance, suggesting that the company's strategy might eventually prove successful. It's important to note that Apple's fiscal 2024 revenue reached $391 billion, indicating that the company is likely to continue investing in its streaming service for the foreseeable future.
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