According to a new report by The Information, Apple is losing more than $1 billion a year on its streaming service, citing two people familiar with the matter.

Apple has spent more than $5 billion a year on content since launching Apple TV+ in 2019 but trimmed it by around $500 million last year, the report said.

Apple TV+, known for original shows such as "Ted Lasso", "The Morning Show", "Shrinking", and "Severance", has lagged behind rivals Netflix, Disney+, and Amazon.com's Prime Video in terms of subscribers.

Industry leader Netflix had a total subscriber count of 301.63 million, according to the latest data, while Disney+ had 124.6 million users followed by Warner Bros Discovery at 116.9 million. Although not part of the original report, Amazon's Prime Video has 220 million subscribers worldwide with over 40.2 Billion in revenue. 6 our of 10 American households have Prime Video.

Lastly, Reuters notes that "Apple TV+ is part of a bundle offered by Comcast (that combines the service with Peacock and Netflix at $15 per month. Apple TV+ costs $9.99 per month in the U.S when bought separately" and $12.99 in Canadian dollars. Read more at Reuters.

Opinion: While I personally like some of the shows on Apple TV+, there's just not enough content to keep me interested enough to keep my subscription ongoing. In addition, Apple annoyingly drags out a series in weekly episodes which is a killer negative for me. When I subscribe, it's because there's at least 3 to 4 full series to binge on over 4 weekends and maybe a movie. Once watched, I stop my subscription and wait 3-4+ months for the next round of series read to watch in full.

It's not just Apple, I do this with all streamers who annoyingly refuse to provide their customers with full series.

What are your thoughts on Apple TV+ and streaming in general? Send in your comments on X.