Apple TV+ is reportedly losing more than $1 billion per year as the company is spending $4.5 billion on content annually.

A new report from The Information claims that Apple is losing over $1 billion a year on Apple TV+ (per Reuters). Apparently, the company has spent more than $5 billion a year on content since the streamer launched in 2019,

The streaming service is currently home to award-winning titles such as 'Ted Lasso' and 'Killers of the Flower Moon.'

Apple has renewed the mind-bending workplace thriller for a third season. The series stars Adam Scott and hails from creator and writer Dan Erickson, and director and executive producer Ben Stiller. The renewal decision is a no-brainer: The cultural phenomenon broke records in its second season,

"Severance" has been renewed for Season 3 after the release of the Season 2 finale, marking the return of Apple's most-watched series yet