Apple is reconsidering its approach to original content for Apple TV+ after reportedly spending around $20 billion on shows and movies, many of which have gone unnoticed by viewers.
According to Bloomberg, Apple executive Eddy Cue has been in discussions with Apple TV+ studio heads Zack Van Amburg and Jamie Erlicht to reduce budgets and move away from the platform’s image as a top spender in the industry.
The tech giant has invested significant amounts in high-profile projects, including $250 million for the miniseries “Masters of Air,” which failed to attract a substantial audience. Additionally, it has spent over $500 million on films from acclaimed directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this hefty investment, Apple TV+ holds only a 0.2% share of TV viewership in the United States, attracting fewer viewers in a month than Netflix does in just one day. The platform has also faced challenges in growing its subscriber base.
Although Apple’s streaming service struggles have not significantly affected the company’s overall performance—since streaming is not central to its business model—their pattern of unlimited spending appears to be shifting. The company has already hinted at this change by exhibiting hesitance in renewing shows for third seasons, as indicated by Bloomberg data.
Notably, Apple TV+ remains the only major streaming service without an advertising tier, but this may soon change following the appointment of Joseph Cady, a former ad executive from NBCUniversal, earlier this year.