Capital Economy, Business and Finance
Apple TV+ has been losing $1 billion a year since its 2019 launch, with more than $20 billion spent on original content that has brought in 45 million subscribers.
This leaked data is the capstone to a bad month for the trillion-dollar company.
Apple’s stock price has dropped about 10 per cent so far this month, iPhone sales have been falling, analysts fear the effects of American tariffs and AI boss John Giannandrea was replaced last week following the glacial roll-out of Apple Intelligence.
Some of these problems may be features rather than bugs.
Apple’s insistence on privacy has reduced the volume of data available to train AI algorithms, while Apple TV+’s purpose remains vague beyond hiring expensive talent to make unbuzzy shows like 2024’s Sugar (Colin Farrell), The Lady in the Lake (Natalie Portman) and Franklin (Michael Douglas).
One exception is Severance, the hit series about a strange corporation with shiny walls and excessive power facing unexpected problems. Sounds familiar.
Photo credit: Apple TV+
