See the full reporthere.
Ongoing investment in streaming also lowered 2022 profits as the companies are still building up their new services.
This reflects that the fundamentals of the businessdemand for valuable contentremain strong.
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Once the pandemic surge in subscriptions plateaued, Wall Street enthusiasm cooled.
The companies then rode the growth of cable subscriptions in the U.S. and around the world to record profits.
And how much can we expect them to pay to see it?
WGA
If television is no longer ad-supported, how big an audience can we expect to reach?'
The combination of foreign cable and SVOD licensing led to instant profitability for many television series.
On the features side, DVDs drove theatrical profits in the early 2000s.
People are not going to stop buying TV shows, they need TV shows.
Spoiler Alert: Writers have fallen behind.
The WGAs current contract with the Alliance of Motion Picture & Television Producers expires on May 1.
