Apple (AAPL) TV+ is the only Apple subscription service that isn’t profitable and the service is losing more than $1B annually even though its subscriptions grew to around 45M last year, two people with direct knowledge of the matter told The Information’s Wayne Ma. One of the sources said Apple has spent more than $5B a year on content since launching Apple TV+ in 2019, but the company trimmed that budget by around $500M last year as the company took a harder line on spending, even though Apple “shows no sign that it’s getting cold feet about the streaming media business,” according to the report.
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