Apple TV+ faces budget cuts to make streaming business more sustainable amid industry losses.
Apple TV+ faces budget cuts in a move to make its streaming business more sustainable as losses mount across the industry. Senior vice president of services, Eddy Cue, is urging studio chiefs Zack Van Amburg and Jamie Erlicht to scrutinize project budgets more closely. Despite spending over $500m on movies from renowned directors, Apple TV Plus attracts fewer views per month than Netflix's average daily views, leading to a shift in strategy.
July 22, 2024
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