Apple is rethinking its strategy for Apple TV+ after spending about $20 billion on original content, many of which have gone unnoticed by viewers. According to reports, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht about controlling budgets. There is an indication that the streaming service aims to change its image as the biggest spender in the industry.
The company has invested significantly in projects, including $250 million for the miniseries “Masters of Air,” which received minimal attention upon its release this year. Additionally, Apple has reportedly spent over $500 million on films from renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these substantial investments, Apple TV+ captures only 0.2% of TV viewership in the United States, with its monthly viewer count being less than what Netflix achieves in just one day. Subscriber growth has also posed a challenge for the platform.
While Apple does not view streaming as a primary focus of its business, it seems to be moving away from unlimited spending, as suggested by its hesitance to renew shows for third seasons. Notably, Apple TV+ is currently the only major streaming service without an advertisement-supported tier, a situation likely to change following the hiring of ad executive Joseph Cady from NBCUniversal earlier this year.