Apple is reassessing its investment in original content for Apple TV+, having reportedly spent an astounding $20 billion on shows and movies that many viewers may not recognize. According to Bloomberg, the company’s executive Eddy Cue has been in discussions with the heads of Apple TV+’s studios, Zack Van Amburg and Jamie Erlicht, about scaling back budgets and shedding the platform’s image as a top spender in the industry.
This large expenditure includes a notable $250 million for the miniseries “Masters of Air,” which had a lackluster reception upon release. Additionally, Apple has invested more than $500 million in films from acclaimed directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this substantial spending, Apple TV+ holds only a fraction of the US television viewership, accounting for just 0.2%. In comparison, it generates fewer views in a month than Netflix garners within a day, and it has faced challenges in boosting subscriber numbers.
Though Apple has not been overly concerned about the performance of its streaming service—given that it is not central to its business model—the firm appears to be moving away from its previously unrestricted spending habits. Evidence of this shift includes hesitance to renew shows for a third season. Notably, Apple TV+ is among the last major streaming platforms without an advertising tier, but this may soon change following the hiring of advertising executive Joseph Cady from NBCUniversal earlier this year.