Apple is re-evaluating its strategy for Apple TV+ after reportedly spending about $20 billion on original content that has not garnered significant viewership, according to a Bloomberg report. The company’s executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht about controlling budgets and changing the platform’s reputation as the highest spender in the industry.
Apple has invested considerable amounts in projects such as the $250 million miniseries “Masters of Air,” which found limited success upon its release. The company has also invested over $500 million in films from renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this extensive spending, Apple TV+ holds only a 0.2% share of total TV viewership in the United States, with its monthly views trailing far behind those of competitors like Netflix. The platform has faced challenges in subscriber growth as well.
While streaming is not a primary focus for Apple, signs indicate a shift away from unlimited spending, including a hesitance to renew certain shows for third seasons. Additionally, Apple TV+ remains the only major streaming service without an advertising tier, which may soon change following the recent hiring of Joseph Cady, a former NBCUniversal ad executive.