Apple is reassessing its approach to original content for Apple TV+ after reportedly spending around $20 billion on shows and movies, many of which have gone unnoticed by viewers. The company is in discussions regarding budget cuts with studio chiefs Zack Van Amburg and Jamie Erlicht, who are eager to shift the perception that Apple is the largest spender in the industry.
The tech giant has invested significant amounts in productions, including $250 million for the miniseries “Masters of Air,” which premiered this year but failed to gain traction. Additionally, over $500 million has been spent on films from notable directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this extensive investment, Apple TV+ accounts for just 0.2% of TV viewership in the United States, with its monthly views falling short compared to Netflix’s views within just 24 hours. The service has also faced challenges in growing its subscriber base.
Streaming isn’t a primary focus for Apple, and the company appears unconcerned about its current streaming issues. However, it seems the era of unlimited spending may be coming to an end as evidenced by a reluctance to renew shows for third seasons. Notably, Apple TV+ stands out as the only major streaming service to lack an advertising tier, although this may change following the recent hiring of Joseph Cady, an advertising executive from NBCUniversal.