Apple is reassessing its spending on original content for Apple TV+, having invested approximately $20 billion in shows and movies that often go unnoticed by viewers. The company is reportedly seeking a more fiscally responsible strategy, as executives Eddy Cue, Zack Van Amburg, and Jamie Erlicht meet to discuss budget cuts.
Notable expenditures include $250 million for the miniseries “Masters of Air,” which premiered this year but failed to gain significant attention. Additionally, Apple has invested over $500 million in films directed by renowned filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its significant financial outlay, Apple TV+ captures only 0.2% of television viewership in the United States, receiving fewer views in a month than what Netflix attracts in just one day. The platform has also faced challenges in growing its subscriber base.
Although Apple’s primary business does not center around streaming, its substantial spending is likely to diminish, as evidenced by its hesitation to renew certain shows for third seasons. Furthermore, Apple TV+ currently stands out as the last major streaming service without an advertising tier, a situation that is expected to change following the hiring of ad executive Joseph Cady from NBCUniversal earlier this year.