There may be no CEO in tech who has done as good a job at maximizing profits as Apple’s Tim Cook. Indeed, the company’s ability to extract as many dollars as possible from every part of its business can seem almost excessive at times (for example, when it charges $99 for a laptop power adapter). But it’s all good for shareholders and one reason why Apple stock has been such a great investment. Which is why news today that Apple TV+ is now available on Comcast cable TV boxes raises a question: Why is Apple in the money pit of video streaming?
As is clear from the Comcast news, Apple did not launch Apple TV+ to help drive sales of its hardware. The service is already available on streaming devices made by Roku, Amazon, Google and Sony and on lots of smart TVs. That strategy makes perfect sense for Apple TV+: The only way to maximize audiences is to make sure anyone can see it, regardless of what devices they use to stream it. That being the case, then, how does Cook think Apple benefits from being in this business? Let’s hope it’s not so he can attend awards shows, as much fun as that might be.