Netflix and Amazon are driving a small bump in the market for TV shows after a major slowdown.
It has been nearly seven months since Hollywood resolved its strikes, but momentum still hasn’t taken hold in the entertainment industry. “Survive till ’25” has become an informal slogan among entertainment workers.
But the global market for ordering new TV shows is beginning to show some signs of life, and it’s been overwhelmingly driven by two players — Netflix and Amazon.
Netflix greenlit more scripted television projects through the first quarter of this year than in any quarter since 2022, according to Ampere Analysis, a research firm. Amazon had its most active quarter since Ampere started tracking market activity five years ago, the firm said.
Many of their competitors are still taking a more cautious approach. As a result, Netflix and Amazon collectively accounted for 53 percent of the scripted television series orders among the major studios through the first three months of the year, according to Ampere.
Most of the series orders have been made internationally. Netflix has been particularly active in Britain, Germany, Spain and South Korea, the research showed, while Amazon has been investing aggressively in India.
Netflix and Amazon have also purchased more projects in the United States compared with the tail end of 2023, but the increases have been more modest. Netflix had its most active quarter domestically since the first quarter of last year. Amazon had its biggest quarter since the spring of last year, according to the research.
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Source: Television - nytimes.com
