Apple TV will reportedly cut over $20 billion in spending after a recent quarter report showed its views per month were actually lower than Netflix views per day.
Netflix continued to solidify itself as the streaming king this past quarter by adding eight million new customers for a total subscriber base of 277.7 million, reaching over 600 million people around the world. According to Bloomberg News, Netflix’s daily viewer numbers tower over even Apple TV’s monthly viewer numbers, which will lead the latter to cut costs on original programming. Per the report:
After spending more than $20 billion to produce original TV shows and movies that not a lot of people watch, Apple is starting to refine its strategy in Hollywood.
Based on interviews with more than a dozen people, including former employees, current employees and business partners, Apple services boss Eddy Cue has been having regular meetings with studio chiefs Zack Van Amburg and Jamie Erlicht to go over budgets, pushing them to exert more control over spending on projects. Van Amburg and Erlicht have told some of their top creative partners that they want to change their reputation as the biggest spender in town, according to these people.
Apple spent a combined $500 million last year courting the likes of top-tier talents like Martin Scorsese, Ridley Scott, and Matthew Vaughn, none of whose films became box office champions. Only Scorsese’s Killers of the Flower Moon reportedly broke into Nielsen’s ratings for most-popular streaming titles. While the billions of dollars that Apple TV+ on original programming has generated good reviews and overall positive buzz with shows like Slow Horses and Severance, the platform has been attracting just 0.2% of TV viewing in the United States.
“The company discloses no data about its spending or the financial performance of its Hollywood operation. Investors are more focused on iPhone sales,” noted Bloomberg.
As Breitbart News reported back in January, Netflix had a strong finish to 2023 when it pulled in 13 million new subscribers while inking a new deal with the WWE that will soon put it in the live event broadcasting business.
“The streaming giant reported 13 million new subscribers, with revenue of $8.8 billion and operating income of $1.5 billion. The company had reported 9 million new subscribers last quarter, as its crackdown on sharing passwords continued,” noted The Hollywood Reporter (THR) at the time.
Paul Roland Bois directed the award-winning Christian tech thriller, EXEMPLUM, which has a 100% Rotten Tomatoes critic rating and can be viewed for FREE on YouTube or Tubi. “Better than Killers of the Flower Moon,” wrote Mark Judge. “You haven’t seen a story like this before,” wrote Christian Toto. A high-quality, ad-free rental can also be streamed on Google Play, Vimeo on Demand, or YouTube Movies. Follow him on X @prolandfilms or Instagram @prolandfilms.
