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Is Apple TV Plus a billion dollar blunder for the tech giant
Description
Apple TV+ incurs annual losses exceeding $1 billion despite having 45 million subscribers. The company allocates over $5 billion yearly to create original content, contributing to a total of over $20 billion spent since 2019. Apple TV+ captures only 0.2% of overall U.S. viewership. Competitors like Netflix and Disney+ surpass Apple TV+ in subscriber numbers, with Netflix at over 300 million and Disney+ at about 125 million. Apple prices its subscription at $9.99, lower than Netflix’s and Disney+’s options. To attract new subscribers, Apple offers three free months with device purchases and includes the service in student plans. Although the losses are significant, they represent a small fraction of Apple's total revenue, which reached $124.3 billion in the last quarter, with $26.3 billion from Services. Apple TV+ holds a collection of over 80 movies and 120 shows and has received multiple awards, including an Oscar for "Coda."
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