Apple is reassessing its spending on original content for Apple TV+, having invested around $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. The goal is to alter the platform’s image as a heavy spender in the industry.
Among the significant expenditures, Apple allocated $250 million for the miniseries “Masters of Air,” which premiered this year without gaining much traction. The company has also invested over $500 million in films directed by notable filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these hefty investments, Apple TV+ commands only 0.2% of television viewership in the United States, attracting fewer views in a month than Netflix captures in a single day. The service has faced challenges in boosting its subscriber numbers.
Although Apple isn’t overly concerned about these issues—streaming not being a central aspect of its business—it appears poised to curb its unrestricted spending. This shift is evident in its reluctance to renew certain shows for additional seasons.
Currently, Apple TV+ stands out as the last significant streaming platform without an advertising tier, a situation that may change following the recruitment of Joseph Cady, a former NBCUniversal advertising executive, earlier this year.