Not even Severance can save Apple TV+ from burning billions of dollars

The worst-kept secret in entertainment is that while streaming companies spend a lot of money on programming, these costs are very rarely covered by subscription fees alone. This is why streamers like Netflix, Max, and Disney+ are increasingly trying to make advertising a large part of their business model. And thus far, it has been working, with Netflix specifically seeing some big profit gains following the introduction of its ad-supported plan.