The Information reported on March 20, 2025, that Apple TV+ was losing more than $1 billion a year, citing people familiar with the business. That figure is a reported estimate, not a loss Apple has confirmed in its public results. Apple’s fiscal 2025 announcement reported company and Services milestones but did not disclose Apple TV+ revenue, costs, profit or subscriber totals.
Where the $1 billion estimate came from
The Information’s March 20, 2025 report said Apple TV+ was losing more than $1 billion annually, based on people familiar with the business. The Information’s report is subscriber-gated in the version available. TechCrunch summarized the estimate that day, while making clear that Apple had not disclosed a subscriber total. TechCrunch’s coverage is secondary reporting of The Information’s claim, not an Apple financial statement.
That distinction matters: the estimate describes what sources reportedly said about the service’s economics at the time. It is not a confirmed figure for every year, and it does not establish Apple TV+’s current losses in 2026.
What the report said about spending and subscribers
The Information also reported that Apple had spent more than $5 billion annually on content since Apple TV+ launched in 2019, then cut content spending by roughly $500 million in 2024 to about $4.5 billion. TechCrunch relayed those figures. They are reported estimates, not numbers Apple published as a standalone Apple TV+ expense line.
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TechCrunch also cited The Information’s estimate of about 45 million subscribers in 2024. Apple did not disclose that total. Subscriber estimates should be treated cautiously because the figure is not an official count and the cited coverage does not establish a public definition that can be compared directly with other services’ subscriber numbers.
What Apple’s financial results do—and do not—show
Apple’s fiscal 2025 ended September 27, 2025. In its October 30 results release, Apple reported $416 billion in revenue for the fiscal year and an all-time Services revenue record for the September quarter. CEO Tim Cook said, “Today, Apple is very proud to report a September quarter revenue record of $102.5 billion, including a September quarter revenue record for iPhone and an all-time revenue record for Services.” The quote refers to Apple’s company-level results, not Apple TV+ specifically.
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Apple’s results announcement does not break out Apple TV+ revenue, content costs, operating income or loss, or subscriber count. Aggregate Services revenue cannot be used to calculate the streaming service’s profitability. The public figures therefore neither verify nor disprove the March 2025 estimate.
Why Apple TV+’s standalone economics remain unclear
Apple reports results for its broader Services business, which includes more than streaming, but the cited fiscal 2025 release provides no separate Apple TV+ income statement. Without standalone revenue and expense figures, an outside reader cannot independently calculate the service’s profit or loss from that release. The reported $1 billion-plus annual loss remains an attributed estimate rather than a figure confirmed in Apple’s public results.
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Nor does a 2025 estimate answer what the service earns or spends in 2026. Apple’s later company-wide Services record is not a substitute for a service-specific update, and the official release does not provide one.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What this means for viewers
The reported loss concerns Apple’s business, not whether a customer can watch the service or needs a particular device. Apple says Apple TV is available through its app on Apple and Android devices, smart TVs, streaming devices, PCs and AirPlay-enabled TVs; Apple TV 4K is not required. The Apple TV service page, accessed October 7, 2026, listed a $14.99 monthly price after a seven-day free trial, with offers and terms varying by market. Check the page for current local terms.
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