Apple TV+ Implements Strict Budget Controls

Apple TV+ is shifting strategy to control spending after investing over $20 billion in original programming with limited viewership success. Despite high-profile projects by directors like Martin Scorsese and Ridley Scott, Apple TV+ garners less monthly viewing than Netflix does in a single day. High-budget shows such as 'Severance' reportedly cost $20 million per episode, prompting the need for budget cuts. Apple plans to pay less upfront for new projects, hasten cancellations of underperforming series, and potentially reduce the budgets of ongoing productions. Eddy Cue, Apple's SVP of Services, is pushing for stricter budget controls and the company is licensing more content from competitors. This pivot aims to make the streaming service more sustainable while maintaining its reputation for high-quality content.