2020 saw the premiere of 510 new TV series. By 2021 and 2022, that figure had increased to 633.

According to The Hollywood Reporter, the number of shows that were released fell to 481 in 2023, and the number of series that were in development did not increase anytime soon.

The strike that prompted a delay in the development of certain new series contributed to the 2023 decline, but the research also claims that a decline in the boom for original content is to blame. Television shows are getting approved more slowly and released on screens as streaming firms gradually reduce their expenditures.

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Since the 2023 strikes have ended, there is likely a production backlog, meaning that many of the shows that will resume production won’t air until 2025.

Over time, the current decline in new streaming service shows will continue to have an effect on new content. From 107 original series in 2022 to 68 in 2023, Netflix reduced its output. Max reduced its programming by nine, Hulu by eleven, and Paramount by four. The Hollywood Reporter claims that other providers, such as Disney+ and Apple, have maintained the quantity of new episodes in 2023.

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All of this is happening as streaming businesses strive to turn a profit. Disney+ and Paramount+, among other services, are aiming to turn a profit by 2024 or 2025 by lowering the quantity of new episodes and increasing the quantity of older programs available.

It seems that the heyday of streaming services, when they were starving for original programming and could approve more series, is past. Studios are significantly more selective about the shows they authorize. This is a pattern that’s probably going to last for years to come as streaming providers eventually figure out how to make money.