Apple is reassessing its spending on original content for Apple TV+, having invested a staggering $20 billion on shows and movies that many viewers may not recognize. Reports indicate that Apple executive Eddy Cue has been discussing budget constraints with studio heads Zack Van Amburg and Jamie Erlicht, who have expressed a desire to change the platform’s perception as the industry’s largest spender.
The company has made significant investments in projects like the $250 million miniseries “Masters of Air,” which received little attention upon its release this year. Furthermore, Apple has spent over $500 million on films directed by acclaimed filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these substantial expenditures, Apple TV+ only accounts for a mere 0.2% of television viewership in the U.S., garnering fewer views in a month than Netflix attracts in just 24 hours. The platform has also faced challenges in growing its subscriber base.
Although Apple does not consider streaming a central aspect of its business, the company appears to be moving away from its previous unlimited spending approach. This shift is already evident in its hesitance to renew shows for a third season. Apple TV+ remains the only major streaming service without an advertising tier, a situation that may soon change with the hiring of Joseph Cady, an advertising executive from NBCUniversal, earlier this year.