In the current world of streaming wars, Netflix has a hold over its rival services like no other streamer. After reinventing its inventory and cutting back on releases to maintain quality, Netflix has once again entered the race to topple its market competitors. However, having picked up its spirits like a phoenix rising from the ashes, it is not HBO or Disney facing the consequences of the streamer’s upward stardom. Instead, the streaming mega-corp has made Apple TV+, which seemingly has non-exhausting resources, a little thrifty and penny-wise.

As for now, Apple TV+ is allegedly trying to cut back on expenses after spending a whopping $20 billion on its content curation.

According to Bloomberg’s latest report, after spending over $20 billion to produce original TV shows and movies, Apple TV+ is going to lengths to refine its fiscal approach. Based on interviews with former and current employees, and business partners, Apple services boss Eddy Cue has been having regular meetings with studio chiefs Zack Van Amburg and Jamie Erlicht to fine-tune their allocation strategy. The network is also on a mission to change its reputation as the chief high roller of the town.

Apple does not buy most of the projects in Hollywood, but Netflix does. However, the former has a tendency to splurge on individual titles. It allegedly spent over $500 million combined with movies from filmmakers Martin Scorsese, Ridley Scott, and Matthew Vaughn. Despite the hefty spend, only Killers of the Flower Moon made it to Neilsen’s rankings of the most popular titles. Additionally, Apple TV+ generates fewer views per month than Netflix does in a day. Thus, its caution to make business more sustainable makes sense.

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As for Netflix, despite extending its lead, the streamer remains still on its strategy to curb spending.

Netflix may have undergone some facia changes and updates last month, but that does not mean it is ready to engage in relentless spending. The streaming giant extended a formidable lead over its competitors in the last quarter, adding another 8 million customers. The company now boasts 277.7 million subscribers and reaches more than 600 million people worldwide. Although its quarterly profit has increased sevenfold since 2019, the company feels secure enough to curb spending.

Management is reportedly looking to restrain budgets for shows and reduce the premiums paid to producers. While Netflix plans to increase its spending in the future, it aims to do so at a slower rate than its revenue growth. In a shareholders' meeting last Thursday, the company addressed the challenge faced by its competitors in generating viewership. Thus, Netflix appears confident not only in retaining its audience but also in outshining its rivals.

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What do you think of Apple TV+'s strategy to cut back on expenses after losing to Netflix for revenue? Let us know in the comments below!