Apple is re-evaluating its spending on original content for Apple TV+, having invested approximately $20 billion in shows and movies that have garnered little public attention. According to Bloomberg, executive Eddy Cue is in discussions with studio heads Zack Van Amburg and Jamie Erlicht to tighten budgets and alter the platform’s spending image, as they aim to move away from being known as the industry’s largest spender.
Noteworthy expenses include $250 million for the miniseries “Masters of Air,” released this year but met with lackluster engagement. Additionally, over $500 million has been allocated to films directed by notable figures such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these significant investments, Apple TV+ holds a mere 0.2% share of television viewership in the United States and struggles to attract subscribers, receiving fewer views in a month than Netflix does in less than a day. The tech giant does not appear overly concerned, as streaming is not a primary focus of its business. However, there are indications that the era of unrestrained spending may be coming to an end, with Apple becoming more hesitant to renew shows for third seasons.
Additionally, Apple TV+ remains the only major streaming service without an advertisement-supported option, although this could change following the recent hire of advertising executive Joseph Cady from NBCUniversal.