Apple is reevaluating its spending on television shows and movies, having invested an estimated $20 billion in original content. Reports indicate that Apple executive Eddy Cue has been in discussions with studio heads Zack Van Amburg and Jamie Erlicht to tighten budgets. The aim is to move away from the perception that Apple is the largest spender in the industry.
The company has invested significant amounts in projects, such as the $250 million miniseries “Masters of Air,” which debuted this year with underwhelming audience engagement. Furthermore, it has committed over $500 million to films from renowned directors like Martin Scorsese, Ridley Scott, and Matthew Vaughn.
Despite its extensive investment, Apple TV+ holds just 0.2% of the television viewership in the United States, attracting fewer viewers in a month than Netflix does in a single day. The service has also faced challenges in boosting its subscriber base.
While Apple does not consider streaming its primary business focus, it appears to be moving away from its unrestricted spending approach, signaled by its hesitation to renew shows for third seasons. Currently, Apple TV+ remains the last major streaming platform without an advertising tier, a situation that may soon change following the hiring of ad executive Joseph Cady from NBCUniversal.