Apple is reassessing its spending strategy for Apple TV+ after reportedly investing around $20 billion in original content, much of which has gone unnoticed by viewers. According to Bloomberg, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht regarding budget cuts and transforming the platform’s image as the largest spender in the industry.
The tech giant has invested heavily in productions, such as the $250 million miniseries “Masters of Air,” which launched this year but failed to attract significant interest. Additionally, Apple has spent over $500 million on films directed by notable filmmakers including Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite such extensive financial commitments, Apple TV+ has managed to secure only 0.2% of TV viewership in the US, with monthly views that don’t match Netflix’s daily figures. The service has also faced challenges in growing its subscriber base.
Although these issues haven’t alarmed Apple, given that streaming isn’t central to its business model, there are indications that the era of unrestricted spending may be coming to an end. The company has already shown a reluctance to renew existing shows for third seasons. Notably, Apple TV+ remains the only major streaming platform without an advertising tier, a situation that may change following the hiring of NBCUniversal ad executive Joseph Cady earlier this year.