Apple is reassessing its approach to Apple TV+ after reportedly spending around $20 billion on original content, much of which has gone unnoticed by viewers. The company has been in discussions to tighten budgets under the guidance of executives Eddy Cue, Zack Van Amburg, and Jamie Erlicht, who aim to shift the platform’s image away from being the largest spender in the industry.
Apple’s financial commitment is evident in projects like the $250 million miniseries “Masters of Air,” which garnered little interest upon its release. In addition, over $500 million has been invested in films by renowned directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this significant expenditure, Apple TV+ holds a mere 0.2% share of US television viewership, lagging far behind competitors like Netflix, which can attract more viewers in a single day than Apple does in a month. The platform has also faced challenges in growing its subscriber base.
While streaming is not a primary focus for Apple, the company appears to be moving away from its unlimited spending strategy. This shift is evident in its hesitance to renew shows for third seasons. Additionally, Apple TV+ is currently the only major streaming service without an ad-supported tier, a situation that might soon change following the recruitment of Joseph Cady, a former executive from NBCUniversal.