The Golden Age of TV might be over! Are we witnessing the decline of original TV series? It certainly seems that way. After a decade of seemingly endless content, the number of new TV shows is shrinking, and the trend is continuing into 2025. Is this a temporary blip, or a sign of a fundamental shift in the entertainment industry?
Data suggests we're firmly in what some are calling the "Downslope Days" after experiencing "Peak TV" from the mid-2010s to around 2022. Luminate, a data firm, released a year-end report revealing that the number of original series airing on networks and streaming platforms in 2025 decreased for the third consecutive year since the high in 2022. Last year saw 1,122 show premieres, marking an 11% drop from the 1,266 premieres in 2024. To put it in perspective, the TV landscape (excluding live sports and news) has shrunk by a third since its peak of 1,695 shows in 2022.
But here's where it gets interesting... The decline wasn't limited to one type of platform. Streaming services, cable channels, and broadcast networks all experienced drops, ranging from 8% to 21%. Broadcast networks took the biggest hit, plummeting 21% from 196 shows in 2024 to 154 in 2025. However, it's worth noting that the 2025 number is the same as 2023. Luminate points out that the writers' and actors' strikes in 2023 likely pushed several shows intended for fall 2023 into 2024, possibly inflating the 2024 numbers. This means the decline might not be quite as dramatic as it appears at first glance.
Breaking it down further, streaming shows (including subscription-based and free platforms) dipped from 653 in 2024 to 584 last year, an 11% decrease. Cable experienced a slightly smaller decline of just under 8%, going from 417 shows to 384.
And this is the part most people miss... the performance varied significantly among the major streaming players. HBO Max saw the most significant drop, with its original series output being cut in half, from 32 to just 16. On the flip side, Prime Video actually increased its show count, going from 42 in 2024 to 59 in 2025. Disney+ also saw a modest increase, from 10 to 14 shows. Apple TV remained steady at 37 shows. Netflix debuted 133 shows in 2025, slightly fewer than the 141 from the year before. Hulu saw a small decline (48 to 45), while Paramount+ dropped by 10 shows (36 to 26), and Peacock by seven (38 to 31). Free streaming services premiered 13 shows in 2025, compared to 18 in 2024.
The rise of international content, popularized by shows like Squid Game, was supposed to fill the gap. Shows produced outside the U.S. did help, but even imports saw a decrease compared to 2024. Luminate analyzed nine countries (Germany, Argentina, Mexico, Japan, Spain, France, India, the United Kingdom, and South Korea) that contribute multiple shows to streaming services. Of those, only Argentina saw an increase in its year-over-year show count. South Korea remained the largest provider of shows to U.S. SVOD platforms, offering more than 40.
Controversy Alert: Some argue that the decline in quantity is a good thing, leading to higher quality content. Others believe that fewer options mean less diversity and fewer opportunities for new talent. What do you think?
Food for thought: Luminate is owned by The Hollywood Reporter’s parent company, Penske Media Corporation, and Eldridge as part of a joint venture. Could this ownership structure influence the way the data is interpreted or presented?
Is this a sign of the streaming bubble bursting? Or is the industry simply recalibrating after a period of unsustainable growth? Will we see a rebound in the coming years, or is this the new normal? What kind of content do you want to see more of, and what kind do you think is oversaturated? Share your thoughts in the comments below!
