Apple TV+ spent $20B on original content. If only people actually watched.
Reportedly high budget has brought Apple TV+ a lot of prestige, but not a lot of viewers.
In the streaming world, Apple has a reputation for quality, thanks to its Apple TV hardware and Apple TV+ streaming service. The latter is best associated with original shows and movies surrounded by award buzz and critical acclaim. But despite that success, Apple's streaming service has hardly made a dent in the market at a time when interest in streaming services is bigger than ever.
Apple TV+ launched in 2019. Since then, the company has spent over $20 billion to build an impressive library of original content, Bloomberg reported earlier this year. Yet, despite a highly regarded library of shows and movies with big names in acting and directing, Apple TV+ only garnered 0.3 percent of US screen viewing time in June 2024, per Nielsen.
In July, Bloomberg aptly underscored how minimally competitive Apple TV+ is, writing: "Apple TV+ generates less viewing in one month than Netflix does in one day."
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