Apple is known to spend billions of dollars on its Hollywood projects. But that will likely change following production losses across the streaming industry.
According to Bloomberg news site, Eddy Cue - Apple's Senior Vice President of Services - is urging employees to more closely monitor the budgets of projects, in order to make the Apple TV+ streaming business sustainable. than.
Previously, Apple invested more than 500 million USD in a series of films by directors Martin Scorsese, Ridley Scott and Matthew Vaughn.
Notably, according to Bloomberg, Apple TV+ attracts fewer views per month than Netflix's average number of views in just 1 day.
According to Nielsen data, Apple TV+ accounts for only 0.2% of TV viewing in the US, much lower than Netflix's 8%. As it struggles to dominate Netflix's viewership figures, Apple has now quickly canceled its original TV series projects.
The company is also licensing more content from competitors to reduce its dependence on original series. Apple has even delayed production on shows like Foundation to try to stay within budget.
However, it is currently difficult to grasp the exact number of viewers for Apple's original programs because this technology "giant" does not even share data with its program producers.
Apple's studio is under enormous pressure to compete with revenue from selling iPhones and other technology devices. However, Apple TV+ does not lay off employees as quickly as rivals Disney and Paramount.
