Apple is reportedly reassessing its strategy for Apple TV+ after investing an astounding $20 billion in original content that many viewers may not know about. According to Bloomberg, executive Eddy Cue has been consulting with studio leaders Zack Van Amburg and Jamie Erlicht to determine how to curb spending. They have indicated that the platform aims to shed its image as the biggest spender in the industry.
The company’s significant expenditures include a staggering $250 million for the miniseries “Masters of Air,” which did not generate substantial interest upon its release this year. Additionally, Apple has spent over $500 million on films directed by notable filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these enormous financial commitments, Apple TV+ holds only 0.2% of the US TV viewership market, falling behind even Netflix, which garners more views in just one day than Apple TV+ does in an entire month. The platform has faced challenges in growing its subscriber base.
Although Apple does not prioritize streaming as a central aspect of its business, the company appears to be signaling a shift away from unrestricted spending. This is reflected in its hesitance to renew shows for a third season, as indicated by Bloomberg’s findings.
Moreover, Apple TV+ remains the only major streaming service without an advertising-supported tier. This could be changing soon, as the company has recently brought on Joseph Cady, an advertising executive from NBCUniversal, to help steer its approach.