Apple is reassessing its spending on original content for Apple TV+, having invested around $20 billion in shows and films that many viewers may not recognize. According to a Bloomberg report, the company is seeking to adjust its approach to content financing amidst concerns about over-expenditure.
Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to curtail budgets and shift away from being seen as the highest spender in the industry. Notable investments include $250 million for the miniseries “Masters of Air,” which did not perform well, alongside over $500 million spent on films by renowned directors like Martin Scorsese and Ridley Scott.
Despite the extensive financial outlay, Apple TV+ commands only 0.2% of television viewership in the United States, attracting fewer viewers in a month than Netflix does in just one day. The service has also faced challenges in boosting its subscriber numbers.
While these issues haven’t prompted immediate concern within Apple—given that streaming is not its primary business focus—the company appears to be moving away from unlimited spending, indicated by its hesitation to renew shows for additional seasons. Moreover, Apple TV+ stands out as the only major streaming service currently without an advertising tier, but this may change following the hiring of NBCUniversal’s Joseph Cady, an advertising executive earlier this year.