Apple Reduces Spending on TV+ Content

Apple is reportedly scaling back its spending on original content for its streaming service, Apple TV+, after investing over $20 billion with minimal audience success. The company's services chief, Eddy Cue, is pushing for tighter budget controls in collaboration with studio heads Zack Van Amburg and Jamie Erlicht, as most high-profile projects have not performed well, except for 'Killers of the Flower Moon'. Despite notable investments in productions from renowned directors, Apple's market share in streaming remains low, capturing only 0.2% of U.S. TV viewing compared to Netflix's dominant position. In light of this, Apple aims to adopt a more sustainable approach by reducing upfront costs and swiftly canceling underperforming series. The shift reflects a broader trend among streaming services struggling to balance extravagant spending with viewer engagement.