Apple is reportedly reevaluating its approach to Apple TV+ after investing an astonishing $20 billion in original content, much of which has gone largely unnoticed by audiences. According to Bloomberg, senior Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht about cutting budgets and shifting the platform’s spending strategy.
The company has made headlines for its lavish expenditures, including a staggering $250 million for the miniseries “Masters of Air,” which received minimal attention upon release. Additionally, over $500 million has been allocated to films directed by notable filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these significant financial commitments, Apple TV+ holds only a mere 0.2% of TV viewership in the United States, with its monthly views being drastically lower than Netflix’s views within a single day. The platform has faced challenges in boosting subscriber numbers as well.
While streaming isn’t a primary focus for Apple, the company appears to be indicating that its unrestricted spending days are coming to an end, as evidenced by its reluctance to renew shows for third seasons. Moreover, Apple TV+ is currently the last major streaming service that does not offer an advertising tier, a situation that may change following the hiring of Joseph Cady, a former advertising executive from NBCUniversal.