Apple is reassessing its approach to content creation for Apple TV+ after investing an astonishing $20 billion in original programming, much of which has gone unnoticed by audiences. The company recognizes that its strategy may need to shift, especially as reports indicate that while Apple channels significant financial resources into high-profile projects, its market share remains minimal, with just 0.2% of TV viewership in the U.S.
Recent discussions among Apple executives, including Eddy Cue and studio heads Zack Van Amburg and Jamie Erlicht, suggest a new strategy that focuses on budget moderation. They want to move away from being labeled as the largest spender in the industry, evident from the substantial investments in projects like the $250 million miniseries “Masters of Air,” which failed to capture audience attention.
Additionally, Apple has allocated over $500 million toward films from renowned directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn. However, despite these efforts, Apple TV+ has struggled to attract subscribers and deepen its viewer engagement, garnering significantly fewer views than competitors like Netflix, which can achieve more in a single day than Apple TV+ does in an entire month.
While streaming isn’t Apple’s primary business focus, the company appears to be initiating a more sustainable approach regarding its content investments. Indications of this strategy have been seen in its reluctance to renew certain shows for additional seasons. Importantly, Apple TV+ currently stands out as the only major streaming service without an advertisement tier, but this may soon change following the recruitment of advertising executive Joseph Cady earlier this year.
This reassessment marks a crucial moment for Apple TV+, with the potential for a more focused and financially prudent strategy that may ultimately benefit both the company and its audience.
In summary, while challenges abound for Apple TV+, the company is poised to adapt its approach to original content in a way that could lead to improved viewer engagement and financial sustainability. As industry landscapes evolve, there is hope that Apple could find its footing and build a more appealing streaming service for audiences in the future.