For years, there’s been a popular theory about Apple TV+, which is that the service isn’t really meant to compete with Netflix or Disney+, but rather to serve as one more way to keep people inside Apple’s walled garden. That even if Apple doesn’t make money from streaming, it’s worth it in the long run if the streaming home of Ted Lasso and Severance helps the company sell a few more iPhones or keeps users from switching platforms.
Apple CEO Tim Cook, however, wants to put that assumption to rest.
In a new interview with Variety to promote the company’s upcoming Formula 1 film starring Brad Pitt, Cook directly addressed the widespread belief that Apple TV+ is little more than an ecosystem play. “I don’t have it in my mind that I’m going to sell more iPhones because of it,” he said. “I don’t think about that at all. I think about it as a business.”
Apple TV+ is not a side hustle for Apple
Cook went on to describe Apple TV+ as a long-considered bet on storytelling, not some kind of gimmick to help advance hardware sales. “We studied it for years before we decided to do [Apple TV+],” he said. “I know there’s a lot of different views out there about why we’re into it. We’re into it to tell great stories, and we want it to be a great business as well. That’s why we’re into it, just plain and simple.”
That might come as a surprise to some analysts and observers, especially given the estimated billion-dollar annual losses associated with Apple’s streaming business (if it’s losing that much money, not such a “great business,” is it?). But Cook’s comments, nevertheless, underscore a core philosophy that sees the streamer as a curated brand extension, one that leans into quality and big swings.
Along those lines: At Apple’s WWDC event this week, the company unveiled a sizzle reel that previews what’s coming to TV+ this summer and beyond — in addition to sharing a bold promise: “New releases every week.” The footage, which you can check out below, teases returning hits like Slow Horses and The Morning Show, along with buzzy new titles like The Lost Bus (with Matthew McConaughey), and Highest 2 Lowest.
I’ve made this next point before in multiple posts, but it’s worth repeating. While Apple TV+ hasn’t always dominated the pop culture conversation, when the service does hit, it tends to hit big: Think shows like Ted Lasso, Severance, The Studio, and Slow Horses. Meanwhile, buzz around the upcoming F1 film suggests it might end up being Apple Original Films’ biggest win to date. There’s a lot to look forward to, in other words.
The bottom line: Apple isn’t treating TV+ as a loss leader, and it’s not here just to sell more iPhones. Instead, the company sees entertainment as a standalone business worthy of investment and patience. And Cook expects the business, eventually, to stand on its own.
