Apple is reassessing its substantial investments in original content for Apple TV+, having spent approximately $20 billion on shows and movies that many viewers may not be familiar with. According to Bloomberg, Apple executive Eddy Cue has been in discussions with studio leaders Zack Van Amburg and Jamie Erlicht to streamline production budgets and change the platform’s image as the highest spender in the industry.
The company has invested heavily in high-profile projects, such as the $250 million miniseries “Masters of Air,” which did not achieve significant viewership upon its release. Additionally, it allocated over $500 million to films directed by notable filmmakers like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its vast expenditure, Apple TV+ commands only 0.2% of television viewership in the U.S., garnering fewer views in a month than Netflix does in just a day. The service has also faced challenges in growing its subscriber base.
While streaming is not a primary focus for Apple, the company’s leaders have indicated a shift away from unrestricted spending. Significantly, Apple TV+ remains the last major streaming service without an advertising tier, a situation that may soon change following the appointment of Joseph Cady, an ad executive from NBCUniversal, earlier this year.