Morning Brew Daily AppleTV+ is Losing $1B/Yr & Boeing Banks Big Defense Deal
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Mar 24, 2025 The hosts tackle the intriguing question of whether the US is truly in a recession, utilizing cultural trends and memes as indicators. Apple TV+ faces a staggering $1 billion annual loss, raising questions about its future. Meanwhile, George Foreman's legacy as a boxer and culinary icon is honored following his death at 76. Boeing scores big with a defense contract for next-gen fighter jets, beating out Lockheed Martin. Lastly, there's a glimmer of hope as the IPO market shows signs of life, providing a snapshot of the economic landscape.
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Recession Indicators
- Internet memes suggest an impending recession due to cultural trends like Lady Gaga's album and Jason Sudeikis' mustache.
- This contrasts with hard economic data like employment numbers and inflation, which paint a healthier picture.
Apple TV+'s Billion-Dollar Loss
- Apple TV+ loses over $1 billion yearly despite having 45 million subscribers.
- Competitors like Netflix question its purpose, while Apple's high spending on A-list talent doesn't yield proportionate impact.
Apple TV+'s Strategy
- Apple TV+ might be a loss leader to draw users into the Apple ecosystem, similar to Costco's hot dog and soda strategy.
- However, Apple lacks data on whether subscribers buy other Apple products, making the strategy's effectiveness unclear.