Apple is reportedly reassessing its approach to Apple TV+ after spending approximately $20 billion on original programming, much of which has gone unnoticed by viewers. According to Bloomberg, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht about curbing production budgets. There are indications that Apple intends to shift away from its image as the largest spender in the streaming industry.
The company has invested heavily in high-profile projects, including a $250 million miniseries titled “Masters of Air,” which received minimal attention despite its hefty budget. Additionally, over $500 million has been allocated for films directed by renowned filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this significant expenditure, Apple TV+ holds a mere 0.2% share of TV viewership in the United States, accumulating fewer views in a month than Netflix achieves in just 24 hours. The platform has also faced challenges in growing its subscriber base.
While Apple does not view streaming as central to its business model, the company’s approach to unrestricted spending appears to be changing, as evidenced by its hesitance to renew shows for third seasons. Apple TV+ remains the sole major streaming service without an ad-supported tier, a situation that may soon evolve following the recent hiring of advertising executive Joseph Cady from NBCUniversal.