Apple is reevaluating its spending on original content for Apple TV+, having invested an estimated $20 billion in shows and movies, many of which have gone unnoticed by audiences.
Recent reports indicate that Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to cut back on costs and alter the platform’s image as an excessive spender.
Notable expenditures include $250 million for the miniseries “Masters of Air,” which was released this year but did not gain much attention. Moreover, Apple has spent over $500 million on projects from acclaimed directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite the massive financial outlay, Apple TV+ holds only a 0.2% share of television viewership in the U.S., attracting fewer views in one month than Netflix does in just 24 hours. The platform is also facing challenges in subscriber growth.
Although streaming is not a primary focus for Apple, the company’s lavish spending may be coming to a close, as indicated by its hesitance to renew certain shows for their third seasons. Additionally, Apple TV+ remains the only major streaming service without an advertising tier, though this may soon change following the appointment of NBCUniversal’s ad executive Joseph Cady.