Apple TV+ attempts to rein in budgets on new projects, as The Morning Show season four spends $50 million on cast alone

In a report from Lucas Shaw at Bloomberg, we are hearing yet again that Apple is trying to tighten the purse strings on Apple TV+, if only slightly. The company seemingly wants to shed the image in the industry that it will pay more than rivals, simply because it is cash-rich.

In contrast to the prior streaming boom frenzy, like other streamers, Bloomberg says Apple is being more particular about what projects it greenlights and is exercising more scrutiny over the budgets of its shows. However, the company is still willing to splash out on big titles, and hunts deals with star-studded actors attached. For just one example, cast salaries for The Morning Show season four will reportedly exceed $50 million, with stars Jennifer Aniston and Reese Witherspoon earning more than $2 million per episode, each.

The Bloomberg report notes that production on season three of Foundation was delayed due to the 2023 actors and writers strikes, and when production resumed, the budget for upcoming episodes had gone over what was planned. Rather than simply stomach the costs, as the company might have done in earlier years, Apple forced script adjustments to bring the budget in line.

Similarly, Severance was a huge hit for Apple when it debuted in February 2022. Behind the scenes, work on season two was plagued by scheduling conflicts and script rewrites, resulting in costs surging to more than $20 million per episode, according to Bloomberg. Season two is finally finished, with a release date set for January 2025. Apple wants to order season three (and beyond?), but bringing down costs is a key concern.

That being said, Apple is still splashing the cash on many occasions, as shown by The Morning Show cast salaries. The true popularity and measurable Apple TV+ success metrics remain murky, but Apple still seems committed to its Hollywood venture, at least for now. In the last week alone, it renewed both courtroom drama Presumed Innocent and comedy series Loot for new seasons.

It continues to experiment with its strategy, though, as indicated by a report last week that the company is allocating more budget towards licensing a movie catalog from others, instead of original films.