Apple is re-evaluating its spending on original content for Apple TV+, after investing approximately $20 billion. This decision follows reports indicating that Apple executive Eddy Cue has been meeting with studio leaders Zack Van Amburg and Jamie Erlicht to discuss budget constraints. The team is reportedly aiming to change the platform’s reputation as the largest spender in the industry.
Apple has invested heavily in high-profile projects, including $250 million for the miniseries “Masters of Air,” which garnered minimal audience engagement upon its release this year. Additionally, significant amounts have been allocated for films directed by well-known figures like Martin Scorsese, Ridley Scott, and Matthew Vaughn, exceeding $500 million in total.
Despite these massive investments, Apple TV+ holds only 0.2% of television viewership in the United States, receiving fewer views in a month than Netflix achieves in a single day. The service has also faced challenges in growing its subscriber base.
While streaming services are not the primary focus for Apple, the company appears to be shifting away from unlimited spending, as indicated by a lack of interest in renewing shows for third seasons. Moreover, Apple TV+ remains the only major streaming platform that does not offer an advertising-supported tier, but this may change following the recent hiring of advertising executive Joseph Cady from NBCUniversal.