TV programs: record number that threatens to overwhelm viewers

Hollywood was frozen for the first time writers’ strike in 15 years. Hundreds of late night shows, sitcoms and drama productions are suspended as unions representing more than 11,000 writers demand better pay. But the sheer volume of shows on the air means the effects of the strike won’t be as noticeable as last time.

In 2022, a record 599 scripted U.S. television shows aired, according to data from FX Networks Research. This is more than double what it was 10 years earlier. Viewers without new content can wade through the backlog.

The increase in fees comes from the rise of well-funded streaming services like Netflix, Disney+ and Peacock, desperate for content to attract subscribers. The streaming wars have pushed up spending. by Amazon The Lord of the Rings: The Rings of Power series, which launched a tepid reviewsit reportedly cost a record $1 billion.

Now that customers have become more selective about monthly subscriptions and investors more discerning about cash burn, spending will flatten. Research by Moffett Nathanson predicts media spending will exceed $136 billion this year, up just 1 percent year-on-year. This compares with a 14% increase between 2021 and 2022. Netflix it plans to spend about $17 billion, the same as last year.

The quality hasn’t kept up with the volume. Two-thirds of people polled by Ipsos and NPR said there were too many streaming services. Deloitte research found that millennials, the cohort most likely to have a streaming subscription, switch providers quickly when they get bored.

In the first three months of the year, Disney reported a decline of 4 million drip in the number of subscribers: its second consecutive decline. Last year, Netflix also saw a decline, although it reversed the trend with the introduction of cheaper tiers.

Cutting costs and improving fees is a perennial goal for streaming services. But there are some simple steps the industry can take when writers get back to work. Swapping binge-able TV series for one-by-one released episodes would be a start.