Scripted TV Shows Experience Largest Decline in 2023, Signaling End of 'Peak TV' Era

A 14% drop in the number of scripted series is attributed to industry strikes, a shift in investment strategies, and a focus on profitability.

The total number of scripted TV shows in the U.S. dropped to 516 in 2023, a 14% decrease from 2022, marking the largest decline in the era of peak TV.
The decline is attributed to a combination of factors including the dual strikes by the WGA and SAG-AFTRA, a shift in Wall Street's focus towards profitability, and a general slowdown in the production of new series.
Despite the decline, 2023's total still ranks as the fourth highest since records began, indicating a still-robust selection of shows for viewers.
FX executive John Landgraf, who coined the term 'Peak TV,' suggests that the number of shows will continue to decline, reflecting a significant industry shift.
The decline in scripted shows is part of a broader realignment in the entertainment industry, with companies re-evaluating investments in scripted series and exploring other content forms.