Apple is reassessing its spending on original content for Apple TV+, having invested an astonishing $20 billion without achieving significant viewership. Reports indicate that executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to tighten budgets and change the streamer’s perception as the industry’s largest spender.
The company has made considerable financial commitments, such as the $250 million for the miniseries “Masters of Air,” which failed to gain traction upon its release. Additionally, it has invested over $500 million in films from notable directors including Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this massive expenditure, Apple TV+ holds only a 0.2% share of US TV viewership, and its monthly views are less than what Netflix garners in just one day. The platform has also faced challenges in boosting its subscriber numbers.
While Apple’s streaming service may not be a primary focus for the tech giant, indications suggest that the era of unlimited spending is coming to an end, particularly as the company has been hesitant to renew shows for additional seasons. Apple TV+ remains the only major streaming service without an ad-supported tier, a situation likely to change following the recruitment of Joseph Cady, an advertising executive from NBCUniversal, earlier this year.