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FX Networks Chief Says 'Peak TV' Has Indeed Peaked
FX CEO John Landgraf seen onstage during a screening in 2021 in Los Angeles, California.
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JC Olivera
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Getty Images North America
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Topline:
FX Networks boss John Landgraf told reporters at the Television Critics Association on Feb. 9 that "Peak TV" had indeed peaked, with scripted TV series declining 14% to 516 shows in 2023 from 600 in 2022, by FX’s count.
Why It Matters: After several entertainment giant mergers, numerous rounds of layoffs and two industry-stopping strikes, Hollywood is in the midst of a period of contraction.
"We're just experiencing a really big pullback," Landgraf told The Ankler. "I think there'll be an active selling and buying period coming up. Like, it's still a really big industry, there's still a big appetite for projects. But you know, when an industry is actually scaling down, you can feel the sort of retrograde motion."
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What's next: "I think its biggest size is behind it," Landgraf says of the entertainment industry. "I can see where the growth is coming. It's in gaming, it's in social media. YouTube has wildly grown. So has Netflix, and so have Disney+ and other streaming platforms. So it has a bright future on one level. But it's going to settle in as a smaller business in terms of at least the volume."
Read more of this story on The Ankler.
This story is published in partnership with The Ankler, a paid subscription publication about the entertainment industry.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
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