He is listed as Executive Producer, so I assume that means he is bankrolling it, and will have a cut of the tasty tasty profits (if any), but how much involvement in the creative side does he take? The show is not that great, and having his name on it can’t help his reputation as an impresario of popular entertainment. I would assume he has some kind of veto power as in “this is crap, shut 'er down” but maybe he just doesn’t care? I wonder if he read any scripts past the pilot.
Executive Producers don’t usually have anything to do with the finances, that’s normally a regular Producer’s job. An Executive Producer is something of an honorary role, and I believe it was invented for Raiders of the Lost Ark, when George Lucas needed a creative consultant credit of some kind, but that may be apocryphal.
Anyway, Spielberg’s role will be creative input, shaping the production and giving it clout, as well as suggesting story ideas. He’ll sit in on a few meetings, and make a couple of decisions, but generally just stay out of it and let it do its own thing until he needs to step in to guide something or other.
Paging Mr. Spielberg. You have an urgent call on line one!