Apple is reevaluating its spending on original content for Apple TV+, having invested approximately $20 billion on shows and movies that have received little public attention. According to reports, Apple executive Eddy Cue has held discussions with studio heads Zack Van Amburg and Jamie Erlicht about reducing budgets and changing the perception of Apple TV+ as the industry’s largest spender.
The company has invested significant amounts in productions, including $250 million for the miniseries “Masters of Air,” which didn’t gain much traction upon release. Additionally, it has poured over $500 million into films from notable directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this massive expenditure, Apple TV+ commands a mere 0.2% of TV viewership in the United States, garnering fewer views in a month than Netflix does in just a day. The platform has faced challenges in growing its subscriber base.
Although Apple’s core business does not focus on streaming, its lavish spending appears to be waning, as indicated by a cautious approach in renewing shows for third seasons. Notably, Apple TV+ is still the only major streaming service without an advertising tier, although this could change following the recent hiring of Joseph Cady, a former NBCUniversal ad executive.