Everyone is talking about peak streaming, but now the studios seem to be doing something about it.
So far in 2023, there’s been a slowdown in the number of new streaming original series. The most recent peak in firsts was the fourth quarter of 2022, which saw the strongest quarterly production growth in the past three years. An 11 percent growth in the number of original titles streamed resulted in a record number of premieres. Since that peak, the pace of production has slowed for two consecutive quarters.
After years of encouraging lavish budgets in the name of subscriber growth, Wall Street is urging studios to rein in their content spending, leading to hefty writedowns, layoffs and cutbacks.