In 2020, there where 510 new TV shows released. In 2021 and 2022, that number grew to 633. Now, in 2023, the number of shows released dropped to 481, and the number of shows in production won’t be bouncing back anytime soon, according to The Hollywood Reporter.
Part of the 2023 drop was the strike that delayed production on some new shows, but the report also says this slowdown is also caused by a downturn in the original content boom. Series are being greenlit at a slower pace and hitting screens my slowly streaming services cut back on spending.
With the lag of production now that the 2023 strikes are over, it is likely many of the shows starting back up won’t hit screens until 2025.
In the long run, the recent drop in new shows from streaming services will continue to impact new programming. Netflix cut its number of original shows to 68 in 2023, which is down from 107 in 2022. Hulu cut its original shows by 11, Max by 9, and Paramount by 4. Other services, like Disney+ and Apple, have maintained the number of new shows in 2023, according to The Hollywood Reporter.
This all comes as streaming services are trying to become profitable. By cutting back on new shows and reducing the number of older programs offered, services like Disney+ and Paramount+ are working to be profitable in 2024 or 2025.
The glory days of just a few years ago when streaming services were desperate for original content—allowing more shows to be greenlit—seem to be over. Studios are far more careful of what programs they approve. A trend that will likely continue for years to come as streaming services are finally looking for ways to be profitable.