Apple is reportedly reassessing its strategy for Apple TV+ after spending an astounding $20 billion on original content, much of which has gone unnoticed by viewers. According to Bloomberg, Apple executive Eddy Cue has been engaging in discussions with studio leaders Zack Van Amburg and Jamie Erlicht to manage production budgets more effectively. The team has indicated a desire to shift away from the perception that Apple is the largest spender in the streaming industry.
The company has invested heavily in various projects, such as the $250 million miniseries “Masters of Air,” which launched this year but failed to generate significant interest. Apple has also allocated over $500 million on films directed by renowned filmmakers including Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these large investments, Apple TV+ holds just 0.2% of the US television viewership, garnering fewer views in one month than Netflix does in just a single day. The platform has also faced challenges in growing its subscriber base.
While these issues have not raised alarms within Apple—likely due to streaming not being central to its primary business—indications suggest that the era of unchecked spending is coming to an end. This shift is reflected in the company’s hesitance to renew certain shows for third seasons, as noted in Bloomberg’s research.
Additionally, Apple TV+ stands out as the only major streaming service currently without an advertising tier, a situation expected to change following the hiring of ad executive Joseph Cady from NBCUniversal earlier this year.