Top streaming platforms premiered 116 fewer original shows in 2024 compared to 2022

Have we reached the end of Peak TV? That’s the question Digital i is answering with its latest report, and the answer seems to be a resounding yes.

The streaming media measurement company tracked the volume of original shows over a two-year period to produce a study it dubbed Trend Report: Are You Still Watching? According to the report, four prominent subscription-based streaming services – Netflix, Disney+, Max, and Amazon Prime Video – launched 116 fewer original shows in 2024 than they did in 2022.

Those four hubs launched 395 original shows in 2022. In 2024, that number dropped to 279. Among that group, only Netflix can say that the majority of its top 25 shows of 2024 came from original concepts rather than recycled IP.

The decline points to a tangible result of the 2023 WGA and SAG-AFTRA strikes, which shut down Hollywood productions for months as industry professionals sought better deals with streamers and increased protections against generative AI disruption. Many outlets have described the strikes as the end point of the Peak TV era, and Digital i’s findings support that hypothesis.

There are also signs, however, that the streaming industry may be able to rebound. For some hit shows, like Prime Video’s Fallout and Netflix’s The Gentlemen, more than 60% of viewers watched the complete series. Shows with shorter runs fared better than those with longer seasons; originals in the first group averaged a

Licensed content also held on as a reliable choice for streaming viewers. As subscribers favored older shows over splashy new originals, familiar hits rolled up massive viewership tallies. Grey’s Anatomy, for example, generated two billion hours of global watch time in 2024, according to the Digital i data.

Despite some positives for streaming hubs, the Trend Report serves as a grim reminder of the current state of an industry that once redefined television. The WGA and SAG-AFTRA strikes shifted power to creator platforms like YouTube and TikTok, which Gen Z and Gen Alpha consumers increasingly prefer compared to Netflix et al. That effect has been so strong that SVOD services are cutting deals with creators to convert YouTube subscribers into streaming subscribers.

Some of those deals are reminders that creators see streaming services as vehicles for increased reach. The Sidemen, for example, took their show Inside to Netflix because they felt that they had maximized their potential on YouTube. So while the era of Peak TV may be over, the new entertainment paradigm will still have a place for the Netflixes of the world.