Deadline is usually shilling for the Hollywood big-shots. Either Apple doesn't qualify as Hollywood (the tech companies are the new kids on the block), or they cannot justify not looking at reality. Apple Losing Over $1 Billion A Year On Streaming – Report
Apple is losing more than $1 billion a year on streamer Apple TV+, according to a report in the Information that cited two people familiar with the matter.
The tech giant has spent over $5 billion a year on content since launching Apple TV+ in 2019 but trimmed that by about $500 million last year, the report said.
Eventually a publicly-traded company has to pay attention to return on investment, and stop looking at prestige projects, or vanity projects.
Apple CEO Tim Cook, on quarterly conference calls with analysts, routinely tips his hat to Apple TV+ shows and awards they win. But the company doesn’t break out any data on the streamer, which is buried in the Services division — one of the company’s fastest growing — along with myriad other subscription platforms like Apple Music, Apple Arcade, Apple Fitness, Apple News+, Apple Books as well as the Apple App Store, iCloud, Apple Care, Apple Pay and more. The segment had revenue of $96 billion for FY 2024 that ended in September.
Even if they don't publish the numbers for Apple TV+, they do have those numbers internally. And either Tim Cook will grow tired of chasing respect in Hollywood, or the next CEO will ask, "Why are we setting $1 billion on fire every year?"
Hat tip to Nerdrotic.
This scares the shit out of Hollywood.
Why? Because if eventually they stop being vain, that entire part of the streaming universe will go away, at least as far as new projects are concerned. And it will probably go away overnight, or very quickly.
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