Apple is reportedly reconsidering its high spending on original content for Apple TV+, having invested around $20 billion in shows and movies, many of which have gone unnoticed by audiences. According to Bloomberg, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to reduce budgets and change the perception of Apple TV+ as a major spender in the industry.
The company has made significant financial commitments, such as the $250 million spent on the miniseries “Masters of Air,” which performed poorly upon release. Additionally, Apple has invested over $500 million in films by renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite these investments, Apple TV+ accounts for only 0.2% of television viewership in the U.S., with its monthly viewership falling short of what Netflix achieves in just a single day. The platform is also struggling to grow its subscriber base.
While Apple does not prioritize streaming as a core aspect of its business, the company appears to be shifting away from unlimited spending, as indicated by its hesitance to renew certain shows for additional seasons. Notably, Apple TV+ is currently the only significant streaming service without an ad-supported tier, though this may soon change following the recent hiring of Joseph Cady, an advertising executive from NBCUniversal.