Apple’s (AAPL) upstart streaming video service Apple TV+ is losing money. Citing Bernstein analyst Toni Sacconaghi, Barron’s reports that the company could be losing between $1 billion and $2 billion a year on the service. However, despite the losses, Apple is unlikely to shut down the service as it is key to strengthening and broadening its ecosystem. Apple TV+ Investments According to Sacconaghi, Apple TV+ has between 20 million and 40 million paying subscribers and generates between $1 billion and $2 billion in revenue annually. However, the unit’s revenue is quite low, considering the tech giant generates upwards of $400 billion annually.
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