How Apple plans to cut down on its Hollywood spending

Apple is going easy on spending money on making TV shows and movies after losing billions of dollars over the past few years. The company has spent more than $20 billion on shows that not many people watch. Eddy Cue, who runs Apple’s services, as per Bloomberg, is now meeting often with the heads of Apple’s TV studio, Zack Van Amburg and Jamie Erlicht.They are talking about how to spend less money on new shows and movies.
Bloomberg reports that Apple TV+ only gets 0.2% of TV viewing in the United States. This means that in one month, Apple TV+ gets fewer viewers than Netflix gets in just one day, which is said to have a 8% of share in TV viewing.

Expensive projects aren’t attracting viewers

Apple has been known for spending a lot of money on single projects. For example, they spent over $500 million on movies from famous directors like Martin Scorsese and Ridley Scott. They also spent more than $250 million on a World War II show called “Masters of the Air.” But these expensive projects didn’t attract many viewers.
To save money, Apple is now trying to pay less money upfront for new shows, stopping shows that aren’t popular more quickly, making other studios pay more when shows go over budget, and buying some shows from other companies instead of making everything themselves. Apple is also being more careful with money on popular shows like “Severance” and “Foundation.” They want these shows to cost less to make.

No layoffs at TV division so far

Even though Apple is spending less, they haven’t fired many people like other TV companies have. This is because Apple makes most of its money from selling iPhones and other devices, not from TV shows. Apple TV+ has won awards and good reviews from critics. But it hasn’t gotten as many viewers as Apple hoped. Now, they want to make their TV business more successful without spending as much money.
It’s not clear yet how these changes will affect the quality of Apple’s shows in the future. The company is trying to find a balance between making good shows and spending less money. Apple doesn’t share much information about how much money it spends or makes from its TV business. This makes it hard for people outside the company to know exactly how well Apple TV+ is doing.