For years now Apple has been spending big money to try and become a major streaming service.
According to Bloomberg, internal sources reveal that Eddy Cue, Apple’s senior vice president of services, is urging studio chiefs Zack Van Amburg and Jamie Erlicht to tighten the reins on production budgets. The move comes as Apple TV+ struggles to gain traction in the competitive streaming landscape, garnering a mere fraction of Netflix’s daily viewership, according to Nielsen data.
Despite securing high-profile talent and garnering critical acclaim during award seasons, Apple TV+’s viewership remains stubbornly low. This disconnect between investment and audience engagement has prompted the company to reevaluate its strategy. Sources indicate that Apple is now more hesitant to greenlight original series and is exploring licensing content from competitors to diversify its offerings.
The question now is how can Apple TV+ become profitable and attract viewers. At the same time as many other streaming services, including Peacock and Paramount+, are also trying to figure out how to become profitable.
Can Apple do something that many media companies have been unable to do? Can they find a way to make Apple TV+ profitable and attractive to millions of new subscribers?