Apple is reportedly reassessing its approach to Apple TV+, following a significant investment of approximately $20 billion in original content. Despite its hefty spending, the streaming service has captured only 0.2% of the TV viewership in the U.S., falling short compared to competitors like Netflix.
According to Bloomberg, Apple executives, including Eddy Cue, have been in discussions with studio heads Zack Van Amburg and Jamie Erlicht about controlling budgets more effectively. The studio chiefs have expressed a desire for the streamer to move away from its image as the industry’s largest spender.
Apple’s financial commitments include $250 million for the miniseries “Masters of Air,” which launched this year with limited success, and over $500 million for films directed by renowned filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its challenges in gaining subscribers and viewership, streaming remains a secondary focus for Apple. However, the company appears to be signaling a shift away from its previous unrestricted spending habits, as evidenced by a reluctance to renew shows for third seasons. Additionally, Apple TV+ is the last major streaming service without an ad-supported tier, a situation likely to change following the recent hiring of ad executive Joseph Cady from NBCUniversal.