Apple's venture into the streaming world with Apple TV+ is facing significant financial challenges, reportedly losing over $1 billion annually due to hefty investments in original programming. Despite efforts to curb spending in 2024, the company only managed to reduce costs by $500,000, maintaining expenses at around $4.5 billion. This is a slight decrease from the $5 billion spent annually since the launch of Apple TV+ in 2019.
The quality of content on Apple TV+ remains top-notch, with critically acclaimed shows like Severance, Silo, and Foundation drawing high praise from both critics and audiences alike. These shows are far from budget productions; their high production values are evident in their polished presentation. Severance, in particular, has been a standout success, earning a 96% critics score on Rotten Tomatoes and recently being renewed for a third season following the Season 2 finale. Similarly, Silo boasts a 92% rating, while the newly premiered Seth Rogen-led meta comedy, The Studio, has an impressive 97% critics score. Other popular series on the platform include The Morning Show, Ted Lasso, and Shrinking.
Severance Season 2 Episodes 7-10 Gallery
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The positive reception of these shows seems to be paying dividends in terms of subscriber growth. According to Deadline, Apple TV+ added 2 million new subscribers last month during the run of Severance, suggesting that the company's strategy might eventually prove profitable. It's important to note that Apple's overall financial health remains robust, with the company generating $391 billion in annual revenue for its fiscal year 2024, indicating that it can sustain these investments in content for the foreseeable future.
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