A strike by writers and actors in Hollywood was one of the biggest entertainment stories of 2023.
The strikes had a big impact on studios, television and other areas of the entertainment sector in 2023 and this could continue into 2024.
What Happened: With a shutdown from actors and writers, movies that were in production or planning stages were pushed back from 2024 to 2025 by major studios.
The shutdown also saw a lack of scripted programming on broadcast networks for the fall 2023 season, which led to lower viewership figures.
New data revealed that the four major broadcast television networks of ABC, CBS, FOX and NBC suffered from the lack of new content. The biggest surprise was Walt Disney Co (NYSE:DIS)-owned ABC, which saw year-over-year growth thanks to its “The Golden Bachelor” reality hit and its sports content to offset the impact of its original scripted series.
Here’s a look at the ratings, as shared by The Hollywood Reporter:
ABC: Fall 2022 4.07 million average viewers, Fall 2023 4.68 million average viewers, +15% year-over-year
CBS: Fall 2022 5.96 million average viewers, Fall 2023 4.05 million average viewers, -32%
Fox: Fall 2022 4.66 million average viewers, Fall 2023 3.42 million average viewers, -27%
NBC: Fall 2022 6.77 million average viewers, Fall 2023 6.50 million average viewers, -4%
Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA)-owned CBS was hurt the worst of the four companies with a 32% decline from the previous fall.
Fox Corporation (NASDAQ:FOX)(NASDAQ: FOXA) saw a 27% decline for its Fox channel.
NBC, which is owned by Comcast Corporation (NASDAQ:CMCSA), saw a 4% decline and less of an impact thanks to its sports content.
The list also breaks down viewership when excluding news and sports.
ABC: 2022 3.84 million average viewers, 2023 3.62 million average viewers, -6% year-over-year
CBS: 2022 5.70 million average viewers, 2023 3.58 million average viewers, -37%
Fox: 2022 3.01 million average viewers, 2023 1.98 million average viewers, -34%
NBC: 2022 5.01 million average viewers, 2023 4.28 million average viewers, -15%
Related Link: Paramount, Warner Bros. Discovery Merger Is ‘Not The Answer’: Analysts Highlight Deal Positives, Negatives
Why It’s Important: The Hollywood strike saw many of the top shows not air in the fall season.
The Hollywood Reporter estimated…
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