Apple is reevaluating its spending on original content for Apple TV+, having invested approximately $20 billion in shows and movies that many viewers may not recognize. The tech giant’s executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to reduce budgets and shift the platform’s strategy, aiming to change its image as the largest spender in the industry.
Among its costly investments, Apple allocated $250 million for the miniseries “Masters of Air,” which premiered this year but received minimal engagement. Additionally, the company has spent over $500 million for films featuring renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these substantial expenditures, Apple TV+ commands only 0.2% of television viewership in the United States, attracting fewer views in an entire month than Netflix obtains in just 24 hours. The platform has also experienced difficulties in growing its subscriber base.
While Apple does not view streaming as a primary business focus, its approach to unrestricted spending appears to be shifting, indicated by a hesitance to renew shows for additional seasons. Currently, Apple TV+ remains the only major streaming service that does not offer an ad-supported tier, though this is expected to change after the company recently hired an advertising executive from NBCUniversal.