Apple is losing more than $1 billion a year on its streaming service Apple TV+, despite investing more than $5 billion a year in content since its launch in 2019. With 40.4 million subscribers, Apple TV+ lags behind major competitor Netflix, which has 301.6 million subscribers. Apple TV+ focuses on exclusive original content, with successful titles such as "Killers of the Flower Moon," "CODA," "Ted Lasso" and "Severance."

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