Apple is reportedly reconsidering its spending strategy for Apple TV+ after investing around $20 billion in original content, according to Bloomberg. Executives at the company, including Eddy Cue, have been holding discussions with studio leaders Zack Van Amburg and Jamie Erlicht about controlling budgets more effectively and shedding the perception of being the highest spender in the industry.
Apple’s significant financial outlays include $250 million for the miniseries “Masters of Air,” which received minimal attention upon its release. Furthermore, the company has invested over $500 million in films from renowned directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this immense investment, Apple TV+ captures only 0.2% of television viewership in the United States, receiving fewer views in a month than Netflix does in just 24 hours. The platform has also faced challenges in growing its subscriber base.
While Apple appears untroubled by these issues—likely because streaming is not a core component of its business—the trend of unrestricted spending seems to be shifting. The company has hinted at this change by becoming less inclined to renew shows for third seasons.
Notably, Apple TV+ is the only major streaming service without an advertising tier, a situation that may soon alter following the appointment of Joseph Cady, a former advertising executive from NBCUniversal, earlier this year.