Business
Entertainment Industry Post-Strike Recovery
Explore how the entertainment industry is navigating its recovery post-strike, with insights on new strategies, challenges, and opportunities for growth in the evolving landscape.
It has been almost seven months since the resolution of the strikes in Hollywood, yet the entertainment industry is still struggling to gain momentum. A prevalent informal slogan among entertainment workers has emerged as “Survive till ’25.”
Netflix and Amazon Driving Global TV Show Market
The global market for ordering new TV shows is showing signs of life, primarily propelled by two major players – Netflix and Amazon. According to Ampere Analysis, Netflix greenlit more scripted television projects in the first quarter of this year than in any quarter since 2022. Similarly, Amazon had its most active quarter since the tracking of market activity began five years ago.
While competitors are adopting a more cautious approach, Netflix and Amazon collectively accounted for 53% of the scripted television series orders among major studios in the first three months of the year, as reported by Ampere.
International Expansion
The majority of the series orders have been made internationally. Netflix has been notably active in regions like Britain, Germany, Spain, and South Korea, while Amazon has been making significant investments in India.
Both Netflix and Amazon have also increased their project acquisitions in the United States compared to the end of 2023. Netflix recorded its most active domestic quarter since the first quarter of last year, while Amazon had its most significant quarter since the spring of last year, according to Ampere’s research.