Apple’s foray into video streaming content is facing a major setback, with the company reportedly losing up to €1 billion annually. Despite spending $5 billion on original programming since 2019, Apple TV+ has failed to attract a significant subscriber base. The service lags behind competitors like Netflix, Amazon Prime Video, and Disney+, which have around 300 million, 200 million, and 125 million subscribers respectively.
The problem lies in the lack of social cachet surrounding Apple TV+. Major stars sign up for expensive projects only to be released on the service without enough hype. Shows like ‘Severance’ and ‘Ted Lasso’ have shown promise, but the overall subscriber count is dismal at just 45 million.
This issue is reminiscent of “water cooler television,” a term used in the industry to describe shows that leave a lasting cultural impact. Apple’s first show to replicate this phenomenon was ‘Severance,’ which has become a topic of conversation among office workers worldwide. However, even high-profile releases like Alfonso Cuarón’s ‘Disclaimer’ and Oscar-winning novels’ adaptations have failed to gain traction.
The film output from Apple has also been met with lukewarm reception. Films like Martin Scorsese’s ‘Killers of the Flower Moon’ and Ridley Scott’s ‘Napoleon’ were commercial flops, despite being backed by high-profile directors. The company is likely to continue investing in big-budget films, but it remains to be seen if this will pay off.
The success of Apple TV+ ultimately depends on whether the company can create a culture around its shows that resonates with audiences worldwide. If ‘Severance’ and other successful titles can generate buzz, Apple may be able to turn things around. However, for now, the service remains a distant second in the streaming wars.
Source: https://www.euronews.com/culture/2025/03/23/apple-loses-1bn-a-year-on-streaming-why-dont-its-shows-work