Everyone talks 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 recent high point for premieres came in the fourth quarter of 2022, which saw the fastest quarterly growth in output in the past three years. An 11% growth in the number of streaming original titles drove by a record number of premieres. Since that high point, the pace of output has slowed for two consecutive quarters.
After years of encouraging profligate budgets in the name of subscriber growth, Wall Street has been pressuring studios to curb content spending, leading to big writedowns, layoffs and cuts.