Apple TV+ losing $1B yearly

Good morning, tech enthusiasts. Apple is reportedly losing $1B a year on its streaming service, Apple TV+, despite investing some $5B annually to produce hit shows like Severance.

While Netflix thrives on its massive library, Apple has been following a more curated strategy, releasing fewer but high-quality titles. The question is: will the company keep TV+ as this high-profile vanity project or make big changes to take on streaming giants?

In today’s tech rundown:

• Apple TV+ losing $1B per year

• Drones delivering gear on Mt. Everest

• Google’s new low-cost Pixel 9a

• AI forecasts weather in seconds

• Quick hits on other major tech news

LATEST DEVELOPMENTS

APPLE

📺 Apple TV+ losing $1B per year

The Rundown: Apple's streaming service, Apple TV+, is reportedly losing over $1B a year—the only subscription not generating profit—despite growing to 45M subscribers last year and earning critical acclaim for shows like Ted Lasso and Severance.

The details:

• Apple has been investing heavily in content, spending $20B since 2019, with Severance season 2 reportedly costing $20M per episode.

• However, losses are not unusual in the early days of the streaming business; Apple anticipates TV+ losses between $15B and $20B over its first decade.

• Still, CEO Tim Cook has reportedly begun scrutinizing the platform's spending more closely, slashing its $5B content budget by $500M for 2024.

• In terms of viewership, Apple TV+ continues to fall behind, accounting for just 0.3% of U.S. screen time in June 2024 — as compared to Netflix’s 8%.

Why it matters: Apple’s focus on quality garners major awards, but that hasn’t translated into subscriber numbers compared to Netflix, Disney+, and Amazon Prime. Of course, Netflix operated at a loss for years before turning profitable and Apple can also sustain the hit—it made $391B in total revenue during the last fiscal year.

DJI

🏔️ Drones delivering gear on Mt. Everest

The Rundown: Mount Everest expeditions are about to shift: DJI drones are being deployed alongside Nepalese Sherpas to transport supplies, haul equipment, and remove waste along some of the mountain’s most treacherous routes.

The details:

• Starting next month, expedition companies will begin testing DJI FlyCart 30 drones capable of carrying loads up to 35 pounds at high altitudes.

• These unmanned aircraft will transport equipment, retrieve ladders used for route-setting, remove waste, and even deliver hot meals and oxygen cylinders.

• Drones can also assist Sherpas in safe route mapping and can go from the base camp to camp one in just 15 minutes—compared to a Sherpa’s 7 hours.

• Nepalese drone startup AirLift first tested DJI drones last spring and noted they can handle the transport tasks despite extreme winds and temperatures.

Why it matters: Proponents argue that drones will make work safer, faster, and more efficient for Sherpas, eliminating repeated crossings of the treacherous Khumba Icefall, for example. However, critics fear that drones buzzing around Everest could jeopardize the livelihoods of people who rely on these expeditions for their families’ income.

GOOGLE

📱 Google’s new low-cost Pixel 9a

The Rundown: After a flood of leaks, Google officially unveiled the Pixel 9a, its latest mid-range smartphone with a larger battery, a new camera, and a slimmed-down design—all coming at a price tag lower than that of Apple’s “budget” iPhone 16e.

The details:

• The Pixel 9a starts at $499 for the 128GB model in the U.S., the same price as last year’s model, and is powered by Google’s in-house Tensor G4 chip.

• It features a sleek, flat profile with rounded edges, departing from the traditional camera bar design of other Pixel models.

• The new phone also boasts a 6.3-inch Actua display with a 120Hz refresh rate and a peak brightness of 2,700 nits—35% brighter than the Pixel 8a.

• Its dual rear camera system includes a 48MP main camera and a 13MP ultrawide—with AI photography features like Magic Eraser and Night Sight.

Why it matters: The Pixel 9a stands out in the mid-range market with its larger display, higher refresh rate, and more versatile camera setup—all at a lower price than the iPhone 16e’s $599. However, its real-world performance remains untested, as Google has delayed its release to "sometime in April."

UNIVERSITY OF CAMBRIDGE

☀️ AI forecasts weather in seconds

The Rundown: The University of Cambridge researchers developed Aardvark Weather, a groundbreaking AI-driven weather prediction system that can deliver accurate forecasts in one second without the need for a supercomputer.

The details:

• The researchers say Aardvark relies on a machine-learning model using data from satellites, weather stations, and other sensors.

• The system produces forecasts in about a second on a desktop computer, using thousands of times less computing power than conventional systems.

• It already outperforms the U.S. national GFS forecasting system, despite using only 10% of the input data of existing systems.

• The researchers say its simplicity can make tailored predictions possible for specific industries or locations, potentially democratizing weather forecasting.

Why it matters: By replacing hours-long supercomputer processing and extending accurate forecasts from five to eight days, Aardvark Weather can provide governments with a more efficient and accessible tool to anticipate natural disasters like floods and plan mitigation strategies in advance to save lives.

QUICK HITS

📰 Everything else in tech today

Nvidia CEO Jensen Huang said the company plans to invest hundreds of billions of dollars in U.S.-made chips and electronics over the next four years.

AI infrastructure startup CoreWeave is set to launch an IPO to raise nearly $2.5B—and mark one of the largest tech listings of 2025.

Tesla CEO Elon Musk confirmed that Tesla has completed its first Optimus humanoid robot at the new pilot production line at its Fremont Factory.

Telegram founder Pavel Durov said the messaging service now has 1B monthly active users, with each user opening Telegram 21 times daily and spending 41 minutes.

Google is introducing an AI-powered upgrade to Gmail’s search function that prioritizes your most-clicked emails and frequent contacts for better results.

Tesla is recalling nearly all Cybertrucks in the U.S., more than 46K vehicles, to fix an exterior panel that could detach when driving.

Social media users flagged that Google’s new Gemini AI is being used to remove watermarks on images from Getty Images and other stock media companies.

Amazon lost its legal battle against a record privacy fine of $812M handed out by Luxembourg's privacy regulator, a ruling upheld by the country's administrative court. 

Meta announced that its AI-powered virtual assistant, Meta AI, is finally launching in the EU — but as a more limited version compared to what’s offered to U.S. users.

Firefly Aerospace's Blue Ghost lander completed its two-week mission on the moon, capturing HD images and marking the longest commercial mission on the moon.

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Rowan, Jennifer, and Joey—The Rundown’s editorial team