Apple is reevaluating its approach to Apple TV+ after reportedly spending around $20 billion on original content, much of which has gone unnoticed by viewers. The company is in discussions to tighten budgets, as executives Eddy Cue, Zack Van Amburg, and Jamie Erlicht aim to change the platform’s image as the largest spender in the streaming industry.
Among its major expenditures, Apple spent $250 million on the miniseries “Masters of Air,” which launched this year but failed to gain significant traction. Additionally, over $500 million has been invested in films from renowned directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this extensive spending, Apple TV+ commands only 0.2% of TV viewership in the US, garnering fewer views in a month than Netflix does in just one day. The service has also faced challenges in boosting its subscriber numbers.
While Apple does not prioritize streaming as a core part of its business, the company seems poised to shift its strategy as it becomes reluctant to renew shows for third seasons. Notably, Apple TV+ is currently the only major streaming service without an ad-supported tier, a situation that may change following the hiring of Joseph Cady, an advertising executive from NBCUniversal, earlier this year.