Sony Pixel Power calrec Sony

The Current State of the Industry and the Future Impact of AI

19/04/2024

The Current State of the Industry and the Future Impact of AI

Hillary Lewis April 18, 2024

0 Comments

The Entertainment Industry: How did we get here and what is the future impact of AI?

A pandemic followed by a recession and twin strikes, add the sudden rise of AI, the over-production of original content, changing viewing patterns, potential bundling of streaming platforms the list goes on and on. The entertainment industry is in a state of flux that has not been seen in decades. When the smoke clears, where does that leave us? What really is the future of the entertainment industry? How are networks and studios adopting AI, and what does that mean for the rest of us?

CreativeCOW's Contributing Writer, Hillary Lewis ventured to SXSW 2024 in Austin, TX, one of the country's largest conferences in tech and film, to get a pulse on these questions.

Some of the biggest industry leaders were in attendance, including SAG-AFTRA National Executive Director, Duncan Crabtree-Ireland; CTO of Paramount Global, Phil Wiser; CEO and founder of Roku, Anthony Wood; VP Product of Adobe Express, Ian Wang; Vimeo SVP of Product, Zohar Dayan; and notable writers, directors, actors, media analysts, AI executives, and other leaders in the industry.

First up: What is the current state of the industry? The biggest question on everyone's mind is How did we get here? Why is our industry still in such a disarray? The Hollywood strikes ended six months ago, so why does content production remain at a standstill? Will the industry ever recover?

There were an overwhelming number of panels at SXSW covering this very topic. One specific panel, The Death of Peak TV A 2024 Post Mortem on Production Downturn' led by Tyler Aquilina, Media Analyst for Variety's Intelligence Platform, shed some light on just how we ended up here.

According to a mountain of data, Aquilina says the industry had been approaching a tipping point long before the Hollywood strikes began. So the first thing that we should really take note of here is that 2022 was the year that TV finally actually peaked. The term Peak TV' was coined well before TV output finally crested and then fell.

The Death of Peak TV' presentation shows the gradual shift from cable and broadcast to SVOD, i.e. streaming

The Death of Peak TV' presentation shows the original series output each year by category of content.

As shown above, in 2023 the industry as a whole saw a 20% drop in original series output across all platforms, plunging from more than 2,000 titles in 2022 to just over 1,600 last year. That came after two decades of almost continuous growth.

There were, of course, other years with small dips in content one for the writer's strike in 2007-08, and one for COVID. However, those dips were never more than 7% a sharp contrast to last year's 20% drop. We also saw a spike in production immediately proceeding both of these time periods another contrast to the stagnant production levels we've seen in 2023-24.

The year 2020 also happened to be when the streaming wars really got going. Disney+, HBO Max, Peacock, Discovery all of these new platforms started popping up beginning in late 2019. And they all decided to follow the model Netflix built, aiming to entice more and more viewers away from cable to streaming by producing massive amounts of original content. More content than anyone could ever dream to watch.

So in 2021 and 2022, we see an unprecedented influx in TV outputs with these new streaming companies throwing billions of dollars into production and racking up massive deficits in the process. The problem is most of these companies weren't turning a profit. Their main goal, and the only thing Wall Street cared about at the time, was increasing their subscribers.

That is, until something very important happens in 2022 Netflix loses subscribers in Q1 of that year, the first time they'd ever reported a drop in subscribers. This is what starts a chain reaction and triggers the beginning of the fall of Peak TV. Investors begin to pay a lot more attention to how much money these legacy media companies are spending AND how much they're losing.

So while there are many events in 2023, like the twin Hollywood strikes, that bare the brunt of the blame for the current state of the industry, the true death of Peak TV was happening before most of the industry was even aware.

How are networks and studios responding to these changes? So what happens now? Has corporate greed ultimately killed the industry? Or are other factors also at play? How will streaming change in the coming years? The guesses are endless but the consensus seems rather bleak for the entertainment industry for some time.

First, networks and streaming companies are taking a step back from over-producing in all areas, only prioritizing their most successful content. More careful considerations for IP-based blockbusters (think The Last of Us and the newly greenlit Monopoly film by LuckyChap and Lionsgate), prestigious awards-based titles (think Oppenheimer or Dune: Part 2), and a strong focus on bringing more sports to streaming (Disney is refocusing a big part of their budget on this).

The projected global spending in 2024 of Sports programming; Disney is set to invest the most in sports out of all other streaming companies

Aquilina also suggests streaming companies will favor unscripted content in general over scripted moving forward, and we'll see more reruns' returning to platforms.

Streaming has typically been filled more by scripted than unscripted. But that is going to start changing. Streaming will look a lot more like cable, fewer scripted originals being produced. Unscripted is a lot cheaper. In tandem with that, I think streaming will start relying a lot more on reruns' which
LINK: https://creativecow.net/the-current-state-of-the-industry-and-the-futu...
See more stories from creativecow

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

09/10/2026

Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026

September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026 New Sports Intelligence helps providers better unders...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...

29/09/2026

Oak View Group Names Cisco as Official Technology Partner

Oak View Group (OVG) has announced Cisco as an Official Technology Partner, with plans to standardize infrastructure across its venue network on Cisco solutions...

29/09/2026

SportsNet Pittsburgh Wins Three Mid-Atlantic Emmy Awards

SportsNet Pittsburgh (SNP) won three honors at the 2026 Mid-Atlantic Emmy Awards. Program awards went to Bucs BP in the Sports Program Live category (produced ...

29/09/2026

CBC, PWHL Revive Hockey Night in Canada' on Saturdays

The Professional Women's Hockey League has announced home openers for all 12 teams for the 2026-27 season, along with a broadcast partnership with CBC under...

29/09/2026

Manifold Technologies Recognized as MXL Contributor Following IBC Innovation Award

Manifold technologies has been recognized as a contributor to the Media eXchange...

29/09/2026

Fubo Launches My Local Sports RSN Add-On Package

FuboTV has announced My Local Sports, allowing subscribers in select markets to add their local regional sports network (RSN) as an add-on to a Fubo Sports subs...

29/09/2026

ANI Deploys Grass Valley AMPP and Framelight X for News Operations

Asian News International (ANI), a wire agency and video news provider based in India, has deployed Grass Valley's AMPP Media Operating System and Framelight...

29/09/2026

SABC Deploys Ikegami UHK-X600 Cameras for IP-Based Production

South African Broadcasting Corporation (SABC) has deployed Ikegami UHK-X600 cameras as part of an upgrade to IP-based production infrastructure. The deployment ...

29/09/2026

Busy in Bristol: ESPN Headquarters Come Alive With New Studio W, Remote-Production Workflows

REMI, REMCO models will drive the bulk of the broadcaster's NHL productions ...

29/09/2026

NASCAR Productions' Keith D'Alessandro on the Continued Evolution of Its Centralized Production Hub

Three years in, the facility is supporting more centralized race production, com...

29/09/2026

NBC Sports Brings Robust Sunday Night Baseball Production Playbook to MLB Wild Card Round

NBC, Peacock, and NBSN are carrying all four Wild Card series with a production ...

29/09/2026

Sundance Institute Announces 2026 Doc Fund Grantees

19 Nonfiction Projects Across All Stages of Production to Receive More Than $1 million in Support as Documentary Film Program Approaches 25th Anniversary LOS ...

29/09/2026

Zynaptiq introduce Loud & Wide

Two new plug-ins launch alongside updated bundles Zynaptiq have just announced the launch of two new plug-ins, alongside new and improved versions of two of...

29/09/2026

Wes Audio unveil the ngOmniBox

All-in-one bus processor revealed Wes Audio's ng product range has come a long way since it was first introduced, and now includes a tasty selection of ...

29/09/2026

First Baptist Nashville Drastically Upgrades Production Communications with...

eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......

29/09/2026

Fubo TV Launches My Local Sports'

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

ARRI Targets Content Creators with New HONOR Smartphone

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

Asian News International Enhances Workflow with Grass Valley AMPP, FramelightX

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

SABC Chooses Ikegami UHK-X600 Cameras to Support IP Studio Transition

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

SABC Upgrades to IP-Based Production with Ikegami UHK-X60...

Ikegami announces that the South African Broadcasting Corporation, SABC, has chosen Ikegami UHK-X600 camera systems as part of an advance to IP-based operation ...

29/09/2026

Blendkit Offers 20% Discount to Celebrate Crossing 150K Asset Milestone

Blendkit Offers 20% Discount to Celebrate Crossing 150K Asset Milestone Brie Clayton September 29, 2026 0 Comments Blendkit, the largest 3D asset libr...

29/09/2026

Ease Live Reports over 75 Million Interactive Sessions Du...

Interactive streaming specialist Ease Live supported more than 76.5 million fan sessions across three major European media operators during this summers FIFA Wo...

29/09/2026

Ease Live to monetise key moments in live sports

Ease Live has added support for VAST (Video Ad Serving Template) to its graphical overlay technology, opening up new ways for broadcasters, streamers and rights...

29/09/2026

Rise AV launches awards celebrating the women advocates a...

Rise AV has announced the launch of the inaugural Rise AV Awards, a new global awards programme celebrating the women, advocates and organisations across the AV...

29/09/2026

Netflix Deploys Advanced Sony PTZ Cameras For Wonka's The Golden Ticket' Production

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

Massachusetts Broadcasters Association Names Gene Lavanchy 2026 Broadcaster of the Year

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

ESPN Reports Its Most-Watched WNBA Regular Season

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

Scripps Taps Digital News Veteran Sean McGarvy to Lead News Strategy

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

Gray Raises Political Ad Revenue Estimates

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

Edward Czarnecki Uses Game Theory to Assess ATSC 3.0 Transition Policies

Share Copy link Facebook X Linkedin Bluesky Email...

29/09/2026

First Baptist Nashville Drastically Upgrades Production C...

Clear-Com announced that First Baptist Nashville has upgraded its production communications with a Clear-Com intercom solution as part of a comprehensive sanct...

29/09/2026

Blackmagic Cinema Camera 6K Captured Action Shots for Sketch

Blackmagic Cinema Camera 6K Captured Action Shots for Sketch Brie Clayton September 28, 2026 0 Comments Camera's portable design and dynamic range...

29/09/2026

Kean Production Services Deploys AJA ColorBox to Deliver Consistent, Accurate Color Across In-venue Displays at Live Events

Kean Production Services Deploys AJA ColorBox to Deliver Consistent, Accurate Co...

29/09/2026

Berklee Alumni and Faculty Nominated for the 2026 Latin Grammy Awards

Berklee Alumni and Faculty Nominated for the 2026 Latin Grammy Awards A total of 28 Berklee alumni and faculty earned nominations across 20 categories this ye...

29/09/2026

Berklee's K-Pop & Beyond Explores Connections Between K-Pop and Hip-Hop

Berklee's K-Pop & Beyond Explores Connections Between K-Pop and Hip-Hop Now in its fifth year, the series brings together artists, industry leaders, and s...

29/09/2026

The energy transition will only succeed if it lasts

We tend to think we live in a digital world, with hopes and fears around artificial intelligence (AI), quantum computing, data centres and the next big technolo...

29/09/2026

Apple releases new guide to help families build healthy digital habits - UPDATE - Posted on 29 September 2026

Today, in partnership with the American Academy of Pediatrics (AAP), Apple relea...

29/09/2026

Final Cut Camera now supports variable aperture on iPhone\u00A018\u00A0Pro - UPDATE - Posted on 29 September 2026

Final Cut Camera, the professional filming app for iPhone, receives a major upda...

29/09/2026

RT lyric fm launch the hunt for Choirs for Christmas

RT lyric fm is proud to announce the annual Choirs for Christmas competition callout. Warm up those vocal chords and join us on RT lyric fm for a celebration ...

28/09/2026

NHL Names Adobe as an Official Creative, Marketing and AI Partner

The NHL has announced Adobe as an Official Creative, Marketing and AI Partner beginning with the 2026-27 season. The partnership will provide the league and its...

28/09/2026

MultiDyne to Showcase Expanded Portfolio Including MRMC Robotics at CABSAT 2026

MultiDyne will exhibit at CABSAT 2026 (October 5-7, Dubai Exhibition Centre), showcasing an expanded technology portfolio following its June 2026 acquisition of...

28/09/2026

ARRI and HONOR Launch Co-Branded HONOR Magic9 Pro Max

ARRI and HONOR have announced the HONOR Magic9 Pro Max, a flagship smartphone carrying ARRI branding on the device and packaging as the first product-level expr...

28/09/2026

Net Insight Adds Nimbra 1020G to Pan-Asian Live Media Trial Network

Net Insight has added the Nimbra 1020G to its pan-Asian live media trial network, giving customers and partners in the region a way to evaluate ST 2110 and JPEG...

28/09/2026

Vindral Named Recipient of 2026 Technology and Engineering Emmy Award

Vindral has been named a recipient of a 2026 Technology and Engineering Emmy Award by the National Academy of Television Arts and Sciences in the category of We...

28/09/2026

Interra Systems to Demonstrate QC and Monitoring Portfolio at CABSAT 2026

Interra Systems will exhibit at CABSAT 2026 (Stand B2-37, Dubai Exhibition Centre, October 5-7), demonstrating its BATON QC platform, ORION monitoring solutions...

28/09/2026

PGA TOUR's Michael Raimondo on Agentic Production, ShotLink Automation, and the Evolution of PGA TOUR Studios

Two years into its new production facility, the TOUR is expanding centralized wo...