Apple TV+ has indeed spent over $20 billion on original programming since its launch in 2019. Despite this significant investment, Apple TV+ has struggled to capture a substantial share of the streaming market, accounting for only 0.2% of TV viewership in the U.S., compared to Netflix’s 8%. Reports indicate that Apple TV+ generates less viewing in a month than Netflix does in a single day.
As a result, Apple is planning to scale back its spending on TV content.