Apple is reassessing its approach to original content for Apple TV+, following substantial expenditures that have reached around $20 billion. According to Bloomberg, executives at Apple, including Eddy Cue, have been engaged in discussions with studio heads Zack Van Amburg and Jamie Erlicht about controlling production budgets and changing the streaming service’s image as a top spender in the industry.
The company has invested significantly in various projects, including $250 million for the miniseries “Masters of Air,” released this year with minimal success. Additionally, over $500 million has been allocated to films featuring renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these investments, Apple TV+ has managed to capture only 0.2% of television viewership in the United States, attracting fewer views within a month than Netflix does in a single day. The streaming service has also faced challenges in boosting its subscriber count.
While Apple does not prioritize streaming as a core aspect of its business, the company’s pattern of unlimited spending appears to be shifting. Indications of this change include hesitance in renewing shows for their third seasons, as reported by Bloomberg.
Notably, Apple TV+ stands out as the last major streaming platform without an advertising tier, which could change soon due to the recent hiring of Joseph Cady, an advertising executive from NBCUniversal.