Apple is reportedly reassessing its spending on original content for Apple TV+, as the company has invested an astonishing $20 billion on shows and movies that many viewers may not be aware of.
According to Bloomberg, Apple executive Eddy Cue has been in discussions with the studio chiefs of Apple TV+, Zack Van Amburg and Jamie Erlicht, about controlling budgets more effectively. Sources indicate that the team is seeking to move away from the platform’s image as the largest spender in the industry.
Apple’s financial commitment includes significant expenditures such as $250 million for the miniseries “Masters of Air,” which released this year but failed to gain significant traction. Additionally, the company has invested over $500 million in films featuring prominent directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these lavish investments, Apple TV+ commands only 0.2% of television viewership in the U.S., attracting fewer views in a month than Netflix achieves in just 24 hours. The platform has faced challenges in growing its subscriber base.
Although Apple does not prioritize streaming as a core aspect of its business, it appears that the era of unrestrained spending may be coming to an end. This shift is evidenced by the company’s hesitance to renew certain shows for third seasons, as noted by Bloomberg.
Apple TV+ remains the only major streaming service without an advertising tier, a situation that may soon change following the recent hiring of ad executive Joseph Cady from NBCUniversal.