Apple is re-evaluating its approach to original content for Apple TV+ after reportedly spending around $20 billion on shows and movies that haven’t gained much recognition among viewers. According to Bloomberg, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht about managing costs more effectively and reducing the platform’s reputation as the industry’s largest spender.
Among its expensive projects, Apple invested $250 million in the miniseries “Masters of Air,” which received minimal attention upon release. The company has also spent over $500 million on films from renowned directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its significant financial outlay, Apple TV+ captures only 0.2% of TV viewership in the United States, lagging behind competitors like Netflix, which attracts more views in a single day than Apple does in a month. Apple has faced challenges in increasing its subscriber count, though the streaming service remains a secondary focus for the tech giant.
There are indications that Apple may be scaling back its previously endless spending on content, as it has been less inclined to renew series for third seasons. Additionally, Apple TV+ is the last major streaming platform without an advertising tier, a situation that may soon change following the hiring of Joseph Cady, an ad executive from NBCUniversal.