It’s not cheap to churn out a hit show like Severance. Just ask Apple.

A new report from The Information claims the tech company is losing $1 billion a year on Apple TV+, according to two people familiar with the matter.

Since launching Apple TV+ in 2019, the company has reportedly spent $5 billion a year on its award winning streaming content – which includes hits like The Morning Show, Shrinking, Pachinko, and more – before trimming that by about half a billion dollars last year to $4.5 billion.

But the company is better equipped to absorb the loss compared to others, considering Apple TV+ is part of Apple Services, a division which brought in a record the company’s most recent filings. The Services division also includes Apple Music, Apple News+, Apple Books, Apple Fitness, Apple Pay and more.

The Information notes the streamer reportedly has 45 million subscribers, though Apple has not confirmed or published that number.

Despite being regarded as one of the smaller streaming platforms in today’s landscape, Apple TV+ regularly wins big during awards season. Apple TV+ was the first streamer to win Best Picture with CODA in 2022.

This is in addition to the 27 Emmy nominations and four wins The Morning Show has nabbed throughout its three seasons, while Severance has nabbed 14 nominations and two wins, with more surely on the way.

Deadline previously reported the sci-fi drama has broken Apple TV+ records and become the streamer’s most-watched series in the platform’s history since it premiered.

It also reportedly fueled a 126% increase in new subscribers between January 1 to January 19 of this year. The outlet also reports Severance Season 1 generated over $200 million for the streamer. With the Severance Season 2 finale premiering on Apple TV+ this week, it remains to be seen just how much the hit series will earn for the streaming service.

New episodes of Severance premiere Thursdays at 9/8c.