To address this issue, Apple's Senior VP of services, Eddy Cue, has reached out to two Hollywood studio chiefs, Zack Van Amburg and Jamie Erlicht, for assistance in closely monitoring budgets and introducing strategies to make the business more sustainable.

Apple has always set ambitious goals, be it in product development or content creation for Apple TV+. However, not every billion-dollar investment guarantees success, as evidenced by the cancellation of Apple's autonomous car driving project after a hefty $10 billion investment. Now, Apple TV+ is grappling with skyrocketing costs that hinder its ability to generate a healthy cash flow.

According to Bloomberg, Eddy Cue aims to reduce these costs significantly, recognizing that he cannot tackle this challenge alone. By enlisting the expertise of Zack Van Amburg and Jamie Erlicht, Apple hopes to bring a more disciplined approach to budgeting and expenditure, ensuring a more sustainable future for Apple TV+.

To shed light on the scale of Apple's current expenditures, the company has invested $500 million in original projects helmed by renowned directors such as Martin Scorsese, Ridley Scott, and Matthew Vaughn. These projects, including "Kills of the Flower Moon," "Napoleon," and "Argyle," aim to attract high viewership. However, recent reports indicate that Apple TV+ is attracting fewer views in a single day compared to streaming giant Netflix.

Moreover, Apple TV+ has poured $50 million into the cast of "The Morning Show," with leading stars Reese Witherspoon and Jennifer Aniston reportedly earning $1 million per episode in the first season. These staggering figures highlight the urgent need for Apple to implement substantial budgetary cuts to prevent costs from spiraling out of control.

Currently, Apple TV+ holds a meager 0.2 percent share of total viewership in the US. As a trillion-dollar corporation, Apple recognizes the importance of a disciplined outlook on spending. The company cannot afford to let its imagination run wild when it comes to expenditure and must prioritize sound financial strategies.

By collaborating with Hollywood studio chiefs, Apple is taking a step towards ensuring the sustainability and profitability of Apple TV+. As the streaming landscape continues to evolve, Apple understands the need to strike a balance between producing top-quality content and managing costs effectively. With the collective expertise of Cue, Van Amburg, and Erlicht, Apple aims to navigate this challenge and position Apple TV+ as a formidable force in the streaming industry.