Despite housing smash hit TV shows such as Severance and Silo and a whole hoard of original movies, Apple is apparently losing a lot of money on streaming. A new report from the Information shows that Apple is losing over $1 billion a year on streaming.

Apple is reportedly suffering massive losses on its Apple TV+ business as a result of creating costly films and TV shows for streaming. According to a paywalled report by The Information, the brand is losing over $1 billion a year due to overspending on its original programming.

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