Apple is reassessing its spending on original content for Apple TV+, having invested approximately $20 billion on shows and movies that have largely gone unnoticed by audiences. According to reports, Apple executive Eddy Cue has been in talks with studio heads Zack Van Amburg and Jamie Erlicht to scale back budgets and alter the platform’s spending reputation.
The company has made significant investments, such as the $250 million spent on the miniseries “Masters of Air,” which launched this year but failed to capture much attention. Additionally, Apple has invested more than $500 million in films from renowned directors including Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this extensive financial commitment, Apple TV+ holds just 0.2% of the television viewership in the U.S., attracting fewer views in a month than Netflix receives in just 24 hours. The platform has also faced challenges in growing its subscriber base.
While Apple does not appear overly concerned about these issues, as streaming is not a central part of its business, it seems to be moving away from its previously limitless spending. Evidence of this shift includes a reluctance to renew shows for third seasons.
Currently, Apple TV+ remains the only major streaming service without an advertising tier. However, this may change following the recent hiring of Joseph Cady, an advertising executive from NBCUniversal.