Apple is re-evaluating its investment in original content for Apple TV+, having spent a staggering $20 billion on shows and movies that many viewers may not recognize. According to Bloomberg, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to control spending. The pair has indicated that the platform aims to escape its reputation as the industry’s largest spender.
In its quest for content, Apple has made significant financial commitments, such as the $250 million it invested in the miniseries “Masters of Air,” which underperformed upon release. The company has also allocated over $500 million for films from renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these investments, Apple TV+ captures only 0.2% of television viewership in the United States, receiving fewer views in a month than Netflix does in just one day. The platform has struggled to expand its subscriber base, though this appears not to concern Apple significantly since streaming falls outside its primary business focus.
However, as spending patterns shift, the company is signaling a departure from its previous high-budget strategies, shown by its reluctance to renew shows for third seasons. Notably, Apple TV+ remains the last major streaming service without an advertising tier, a situation that may change following the recruitment of ad executive Joseph Cady from NBCUniversal earlier this year.