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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchThe Information reported on March 20, 2025, that Apple TV+ was losing more than $1 billion a year, citing people familiar with the business. That is a reported estimate, not a figure Apple has confirmed. Apple’s fiscal 2025 results later reported company-wide and Services records but did not disclose Apple TV+ revenue, costs, subscribers, or profit or loss separately.
Where the $1 billion figure comes from
The estimate originated in a March 20, 2025 report by The Information, which attributed the figure to people familiar with Apple’s business. TechCrunch summarized the report the same day, noting that Apple had not disclosed its subscriber total and describing the subscriber figure as an estimate. Neither account makes the annual loss an Apple-confirmed result.
The date matters: the figure describes what was reported in March 2025. It does not establish Apple TV+’s losses in 2026 or any later period.
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. It said Apple cut content spending by roughly $500 million in 2024, putting that year’s reported spend at about $4.5 billion. Those are reported spending figures, not a published Apple TV+ income statement.
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TechCrunch relayed The Information’s estimate of about 45 million subscribers in 2024. Apple did not disclose that total, so it should be treated as a reported estimate rather than an official count.
TechCrunch’s March 20, 2025 summary provides an accessible account of the loss, spending, and subscriber estimates.
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What Apple’s official results do—and do not—show
Apple’s October 30, 2025 results release reported $416 billion in revenue for its fiscal year, which ended September 27, 2025, 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.” That statement concerns Apple’s company-wide results; it does not identify Apple TV+’s performance.
The release gives no standalone figures for Apple TV+ revenue, content costs, operating income or loss, or subscriber count. Aggregate Services revenue cannot establish whether the streaming service made or lost money. The official results are available in Apple’s October 30, 2025 announcement.
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What can be concluded
- There is a specific reported estimate: The Information said Apple TV+ was losing more than $1 billion annually in March 2025, citing people familiar with the business.
- The estimate has not been confirmed by the Apple results cited here, which do not break out the service’s finances.
- The reported content-spending and subscriber figures also come from reporting, not Apple disclosures.
- The available figures do not establish Apple TV+’s current losses or allow a like-for-like comparison with streaming businesses that publish standalone financial results.
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