• by Wayne Friedman , January 23, 2024

After a flat year in global TV and movie content spend, production is estimated to see a slight increase of 2% this year to $247 billion, according to Ampere Analysis. 

The effects of last year's writers' and actors' strike activity were -- and will continue to be for the near term -- major factors in the production spending. 

It could have been worse, the reports' authors say: “Despite production reaching a near-complete halt in the USA, global streaming services were able to weather the storm and continue a steady delivery of new original content in 2023 with the help of non-US productions.”

Looking at all streaming content -- original, sports, and library TV and movies -- Ampere expects overall spend to grow 7% to $46 billion in 2024. 

Original streaming content itself is also growing -- expected to rise 13% to $27 billion. Content for TV and movie original shows came from territories including Germany, India and South Korea. 

Looking at the U.S. market alone, theatrical and movie-studio content activity is projected to sink 14% his year -- due to the residual effect of the writers' and actors' strike actions in 2023.

Another factor is studios' "ongoing focus on cost-efficiency in a cinema market that remains depressed post-COVID."

For U.S. commercial TV broadcasters, the picture “largely remains stagnant as they battle weaknesses in the TV advertising market.”

Olympic programming in 2024 and presidential political advertising will stem further declines in 2024.