Apple is reevaluating its strategy for Apple TV+ after spending an astonishing $20 billion on original content, many of which viewers may not have seen or even heard of. According to reports, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht about scaling back budgets. They aim to alter the platform’s image as the largest spender in the industry.
The tech giant’s hefty investments include $250 million for the miniseries “Masters of Air,” which debuted this year but failed to attract significant attention. Additionally, over $500 million has been allocated for films featuring prominent directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this extensive financial outlay, Apple TV+ commands a mere 0.2% share of television viewership in the United States, receiving fewer views in a month than Netflix garners in just one day. The platform has also faced challenges in growing its subscriber base.
Though Apple’s streaming service issues do not seem to alarm the company, given that streaming is not a primary focus of its business, signs indicate that its era of unlimited spending may be coming to an end. This is evident from its hesitance to renew shows for third seasons.
Moreover, Apple TV+ remains the only significant streaming service without an advertising tier, a situation that may soon change following the appointment of Joseph Cady, a former ad executive from NBCUniversal.