“Apple TV+ Faces Significant Financial Losses, Exceeding $1 Billion Annually” (Reuters) – The Information revealed that Apple is experiencing annual losses exceeding $1 billion with its streaming service Apple TV+, as reported on Thursday by sources familiar with the situation. Since its launch in 2019, Apple has allocated over $5 billion per year towards content for Apple TV+, but reduced this budget by approximately $500 million last year, according to the report. Apple has not yet responded to Reuters’ request for comment. Despite featuring award-winning original series such as Ted Lasso, The Morning Show, Shrinking, and Severance, Apple TV+ continues to trail behind competitors like Netflix, Disney+, and Amazon.com’s Prime Video in terms of subscriber numbers. (Reporting by Akash Sriram and Harshita Mary Varghese in Bengaluru; Editing by Savio D’Souza)