Apple is reevaluating its spending on original content for Apple TV+ after investing around $20 billion in shows and movies that have received minimal attention. According to reports, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to reduce budgets and improve the platform’s reputation as an extravagant spender.
Apple has committed substantial amounts to various projects, including $250 million for the miniseries “Masters of Air,” which launched this year but did not gain significant viewership. Additionally, the company has spent over $500 million on films by well-known directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this enormous expenditure, Apple TV+ holds a mere 0.2% of TV viewership in the United States and garners fewer views in a month than Netflix does in just 24 hours. The platform has also faced challenges in growing its subscriber base.
Although Apple TV+’s struggles have not raised major concerns for the tech giant—given that streaming is not a central part of its business—the company appears to be signaling a shift in its strategy by being more cautious about renewing shows for third seasons.
Notably, Apple TV+ remains the only significant streaming service without an advertising tier, a situation that may soon change following the hiring of Joseph Cady, a former ad executive from NBCUniversal, earlier this year.