Apple is reevaluating its approach to Apple TV+ after reportedly spending around $20 billion on original content, much of which has gone unnoticed by viewers. The company is in talks about tightening budgets, as executives Eddy Cue, Zack Van Amburg, and Jamie Erlicht seek to change the platform’s image of being the largest spender in the industry.
Apple’s significant financial commitments include a staggering $250 million for the miniseries “Masters of Air,” which did not make a considerable impact upon release. Additionally, the company has invested over $500 million in films from acclaimed directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these investments, Apple TV+ only accounts for 0.2% of television viewership in the United States, attracting fewer viewers in a month than Netflix sees in just 24 hours. Subscriber growth has also been a challenge for the service.
While streaming is not a primary focus of Apple’s overall business model, the company appears to be shifting away from its previously limitless spending strategy, as indicated by its hesitance to renew shows for additional seasons. Notably, Apple TV+ remains the only significant streaming platform without an advertising tier, a situation that may change with the recent hiring of advertising executive Joseph Cady from NBCUniversal.