In what appears to be the first
significant crash in the supply of original scripted U.S. TV series since the industry first began benchmarking so-called "Peak TV," the number of seasons released in 2023 fell 24% from 2022,
according to an analysis released this morning by Ampere.
While there was a material 7.3% dip in the supply of original scripted series released in 2020, according to FX Networks -- which began benchmarking the Peak TV phenomenon in
2009 -- that was attributed to the effects of the COVID-19 pandemic on the TV production supply chain, and it quickly bounced back in succeeding years.
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"2021 and 2022 are the high watermark of
633 - the pinnacle of Peak TV," the Ampere analysis reads, adding: "The number of series ordered was in an even more precipitous decline than releases. And due to the time lag between series being
green-lit and hitting screens, this number is unlikely to rise in 2024."
The Ampere analysis shows the crash in new series releases is across-the-board among television distribution platform
type, but commercial FTA (free-to-air) broadcasters saw the biggest percentage decrease: -57%.
"While 2024 will see some level of a bounce back in the content being ordered, many of these
titles will be released in 2025, meaning any recovery is likely to be slow going," Ampere Principal Analyst Fred Black predicts.
