Apple is reportedly reassessing its approach to Apple TV+ after investing approximately $20 billion in original content, much of which has gone unnoticed by audiences. According to Bloomberg, Apple executive Eddy Cue has engaged with the platform’s studio heads, Zack Van Amburg and Jamie Erlicht, about controlling expenditures. The studio chiefs have indicated a desire to shift away from the perception of Apple as the largest spender in the industry.
The tech giant has made significant financial commitments for productions, such as the $250 million miniseries “Masters of Air,” which premiered this year but failed to generate considerable interest. Additionally, Apple has spent over $500 million on films from renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its substantial investment, Apple TV+ accounts for only 0.2% of television viewership in the U.S., attracting fewer viewers in a month than Netflix draws in a mere 24 hours. The platform has also faced challenges in growing its subscriber base.
While Apple does not prioritize streaming as part of its core business model, the company appears to be scaling back its spending. This trend is evident in its cautious approach to renewing shows for third seasons, as reported by Bloomberg.
Notably, Apple TV+ remains the last major streaming service without an advertisement-supported tier, a situation that may change following the hiring of Joseph Cady, an advertising executive from NBCUniversal, earlier this year.