Apple TV+ is reportedly losing over $1 billion annually, despite spending more than $5 billion a year on content since its 2019 launch. In 2023, Apple cut content investments by $500 million, signaling a shift in strategy. With an estimated 40.4 million subscribers at the end of 2024, Apple TV+ lags far behind competitors like Netflix, which leads the industry with 301.6 million users. This is followed by Disney+ at 124.6 million and Warner Bros Discovery at 116.9 million.

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Future of streaming: Ads, bundles & gaming