Apple is reportedly reassessing its spending on original content for Apple TV+, having invested approximately $20 billion in shows and films that may not resonate with viewers. The company is looking for ways to tighten budgets, as revealed by Bloomberg. Eddy Cue, an Apple executive, has held discussions with Apple TV+ studio heads Zack Van Amburg and Jamie Erlicht about changing the platform’s financial approach.
Despite significant investments, including $250 million for the miniseries “Masters of Air,” which received little attention upon its release, Apple TV+ has managed to capture only 0.2% of TV viewership in the United States. The platform receives fewer views in a month than what Netflix accomplishes in just 24 hours and has faced challenges in growing its subscriber base.
Although Apple TV+ has been facing issues, the tech giant appears unbothered, as streaming is not its primary business focus. However, the trend of unrestrained spending is likely coming to an end, as indicated by the company’s hesitance to renew series for a third season. Interestingly, Apple TV+ remains the only major streaming service without an advertising tier, a situation that may soon change following the hiring of advertising executive Joseph Cady from NBCUniversal earlier this year.