Apple TV+ is reportedly losing more than $1 billion per year as the company is spending $4.5 billion on content annually.

According to the report, Apple TV+ has around 45 million subscribers. However, it was also noted that Apple TV+ was created mainly to keep people in the Apple ecosystem, and the $1 billion loss is a small matter for the company in the context of its overall business, which is mostly fueled by iPhone sales.

Unlike other peers, the streaming service's small library focuses almost exclusively on original content like Severance and Ted Lasso.