Budgets have been so tight in America that even AppleAAPL

has decided to quit spending. Since the launch of Apple TV+, Apple has poured over $20B into original TV shows and movies. Yet, despite these hefty investments, the returns have been disappointing, with low viewership and poor box-office performance — prompting Apple to rethink its spending strategies.

• Apple TV+ captures just 0.2% of US TV viewing. Only four series have made it into Nielsen’s weekly top 10 in five years, and its monthly viewership lags far behind Netflix’s 9.9%.
• Bloomberg Intelligence analysts Geetha Ranganathan and Kevin Near believe Apple TV+ has struggled because its “original content [offers] a fraction of what rivals offer” (BBG).

Apple’s new plan: To turn things around, Apple plans to be more selective about its projects. The core strategy to stay in the steaming game involves controlling costs by peeling back upfront payments for shows, postponing some productions, and increasing content licensing from other sources.