Apple is re-evaluating its spending on original content for Apple TV+, having invested around $20 billion in shows and movies that many viewers may be unfamiliar with. According to reports, Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to control budgets and alter the platform’s perception as the industry’s biggest spender.
The company has made significant financial commitments, including a staggering $250 million for the miniseries “Masters of Air,” which has not garnered much viewer attention. Additionally, Apple has invested over $500 million in films from notable directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its heavy investments, Apple TV+ holds a mere 0.2% of TV viewership in the U.S., receiving fewer views in a month than Netflix achieves in just 24 hours. The service has also faced challenges in growing its subscriber base.
While streaming is not a primary focus for Apple, the company’s apparent readiness to curtail spending could indicate a shift in strategy, especially since it has been hesitant to renew shows for third seasons. Currently, Apple TV+ is the only major streaming service without an advertising tier, but this status may change following the hiring of Joseph Cady, a former executive from NBCUniversal.