According to a report by The Information, Apple spends approximately $4.5 billion annually on content production for Apple TV+. With around 45 million subscribers, the company is still losing about $1 billion each year. Meanwhile, in Q4 2024 alone, Netflix gained 18.9 million new users and now has over 300 million subscribers worldwide.

Apple TV+ on Apple Devices (Image: The Verge)

Despite the losses, there are bright spots in Apple's content business. Apple TV+, Apple Music, and the App Store grew by 14% year-over-year, reaching $26.3 billion in revenue in the final quarter of 2024.

The $1 billion loss does not worry Apple too much, as the company's overall business remains strong. In the fiscal year ending September 2024, Apple reported $391 billion in revenue and a net profit of $93.7 billion.

Apple TV+ is still in its "burning cash" phase to expand its content library and attract new users. The service features popular series such as Severance, Silo, Shrinking, Bad Sisters, Slow Horses, Palm Royale, and Masters of the Air. Some have even won Emmy Awards (Ted Lasso) or Oscars (Killers of the Flower Moon, CODA).

Apple TV+ costs $9.99 per month in the U.S. and 179,000 VND per month in Vietnam. It is one of the few streaming services without a cheaper ad-supported tier. Meanwhile, competitors like Netflix offer budget-friendly plans, with the cheapest mobile-only package costing around 70,000 VND to attract more users.

Launched in November 2019, Apple's streaming service is now available in over 100 countries and territories. The company offers a three-month free trial for customers who purchase a new iPhone, iPad, or MacBook.