Apple TV+ Continues to Invest in New Shows and Movies Despite Declining TV Spending in Hollywood
In the competitive streaming landscape, Apple TV+ has established itself as a significant player, capturing an estimated 11% of the ad-free streaming market. With its influence growing, Apple TV+ has spent a staggering $7 billion on content this year, half of Netflix’s expenditure. While other media companies are cutting back on their content investments, Apple TV+ is determined to expand its streaming content slate.
Renowned for its willingness to invest in talent and provide creative freedom to filmmakers and TV producers, Apple TV+ has produced high-budget projects. Martin Scorcese’s “Killers of the Flower Moon,” with a reported budget ranging from $200 million to $250 million, and “The Morning Show,” starring Reese Witherspoon, costing $150 million per season, exemplify Apple TV+’s commitment to quality content.
To support its growing content library, Apple TV+ is increasing its prices from $6.99 to $9.99 per month. This pricing adjustment will allow Apple TV+ to continue investing in new content and features.
Insider interviews with talent agents and production company executives, along with leaked agency documents, shed light on the types of shows and movies Apple TV+ is actively seeking. Apple TV+ aims to create popular and uplifting programming that appeals to a wide audience, avoiding controversial topics that could hamper its retail business. The successful shows “Ted Lasso” and “Platonic” demonstrate Apple TV+’s commitment to this mission.
Apple TV+ is interested in a variety of genres but prioritizes films that highlight humanity and have a clear relevance to the present. The company is particularly interested in female-forward and elevated young adult films, as well as comedy and sci-fi. While Apple TV+ avoids graphic horror, it expressed a desire for a film in the vein of the sci-fi horror “A Quiet Place.”
In addition to scripted content, Apple TV+ has a growing appetite for unscripted series, including competition shows with the “Apple premium sheen” and a well-cast ensemble. The streaming service is also looking for unscripted sports programming that can be produced quickly and has broad appeal.
As a subsidiary of a retail giant, Apple TV+ operates with relative financial stability, allowing it to make substantial investments in tentpole films. It continues to pursue high-budget projects like “Killers of the Flower Moon” and Ridley Scott’s “Napoleon,” positioning them as potential awards contenders. However, even Apple TV+ is now more cost-conscious and seeks to avoid excessive spending on a per-episode basis.
Apple TV+ has carved out a unique position in the streaming market, attracting viewers with its premium content and star-studded productions. As it continues to invest in new shows and movies, Apple TV+ is poised to compete with industry leaders like Netflix and Disney+.