Apple is reevaluating its approach to TV programming after reportedly spending around $20 billion on original content that often goes unseen by audiences. The company has begun discussions about budgeting with Apple TV+ executives Eddy Cue, Zack Van Amburg, and Jamie Erlicht, who are looking to alter the platform’s perception as the largest spender in the streaming industry.
Apple’s extravagant investments include a recent $250 million payout for the miniseries “Masters of Air,” which received minimal audience interest when released. Additionally, it has allocated over $500 million to films directed by renowned filmmakers such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite this massive expenditure, Apple TV+ captures only 0.2% of TV viewership in the United States and garners far fewer views in a month than Netflix achieves in just one day. The streaming service has also faced challenges in growing its subscriber base.
Apple’s focus on streaming does not significantly concern the company, as it does not constitute the central part of its business. However, signs indicate a shift away from unlimited spending, particularly noted by a reluctance to renew certain shows for further seasons.
Currently, Apple TV+ stands out as the only major streaming service without an ad-supported tier, a situation that may change following the hiring of ad executive Joseph Cady from NBCUniversal earlier this year.