While the theatrical market continues to decline for everyone who isn’tTom Cruise, streaming services are also facing an uncertain future. The COVID-19 pandemic only ensured that the entertainment industry was looking towards exclusive services in the future, and the widespread box office decline has only contributed to that. However, it’s getting harder for film and television fans to catch up with all the must-see content; when you combine the cost of multiple streaming services, the end total rivals that of traditional cable. As a result, some of the top platforms are cutting costs through cancellations as they prioritize hit titles.
Each of the major platforms experiences significant shifts in 2022. Netflix introduced both anad-supported tierand additional gaming features, Amazon Prime Video launchedtheir biggest hit ever withThe Lord of the Rings: The Rings of Power,Bob Igerreturned as CEO for the Walt Disney Companyand promised changes for Disney+, Apple TV+ continued to release prestige projects amidst a price hike, and Paramount+ continued to struggle to maintainall of itsYellowstonespinoffs. However, the story of the year was undoubtedly HBO Max; Warner Brothers Discovery CEODavid Zaslavmade radical changes to the streaming structureandaxed many in development, renewed, in production, and completed projects.
There were many solid shows that failed to get renewed;Minx, Love Life, Made For Love, Fate: The Wink Saga, Blockbuster, Night Sky, The Wilds, Shantaram, Rutherford Falls, Why Women Kill, andThe First Ladyall got canceled in a particularly brutal, competitive season. In an era of mass cancelations, the streaming wars will grow even more contentious in 2023.
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HBO Max Is Completely Restructuring
Under Zaslav’s leadership, some of HBO’s seemingly marquee titles have been axed, canceled, orremoved from the service altogether; even thoughWestworldwas once thought of as the nextGame of Thrones,the ambitious science fiction mystery series wascanceled prior to its intended fifth and final season. On the other side of the market, HBO Maxcanceled the critically acclaimed comedyMinx, despite renewing it for a second season.
Any new shows will be under intense scrutiny to perform well, and even some returning favorites could be under fire if they fail to meet expectations. It’s safe to say that the only show that’s truly safe isSuccession; ironically, it might take the ruthlessness of the Roy family to emerge from the streaming wars intact.
Netflix Is Preparing Its Future
Taking on a popular franchise can go either way; sometimes you geta runaway hit likeWednesday, and other times you may get a disaster likethe canceled live-actionCowboy Bebop. It’s safe to say that unless new shows can generate the instant fandom that recent hits likeThe SandmanandLupindid, they may be in danger as Netflixattempts to account for deficits.
Apple TV+ Is Trying To Sustain Its Run of Success
The one service that seems to have not hit any major hurdles is Apple TV+, which became the first streaming service to win the Academy Award for Best Picture withCODA. Although this year Apple TV+ didn’t get so lucky withEmancipation, they may have some other contenders on their hands next year withMartin Scorsese’sKillers of the Flower MoonandRidley Scott’sNapoleon. Thus far, Apple TV+ has invested in intriguing filmmakers and found success in a diversity of genres; you have pretty different audiences that are watchingTed Lasso, Servant, andSeverance. We may see more creators cross over to the service due to the more volatile situation at other streaming services.
Amazon Prime Has A Huge Hit, Now What?
Amazon Prime unquestionably had a big year thanks to the massive global phenomenon ofThe Lord of the Rings: The Rings of Power, as well as returning favorites likeJack RyanandThe Boys. While each of these shows is developing spinoff projects, Amazon is certainly looking at developing similar titles that appeal to the same viewership;Jack Ryanfans will probably enjoyReacherandThe Terminal List, and the studio has noted that there was a significant crossover fromThe Rings of Powerfans who watchedThe Peripheral.Essentially, Amazon Prime wants to please its existing viewership, and diverging shows likeNight Sky,Paper Girls,andI Know What You Did Last Summerweren’t so lucky.
Disney+ and Hulu Look To Iger’s Future
It seems like fans weren’t the only ones that were overwhelmed by the sheer number ofStar Warsand Marvel content that Disney+ was putting out, as Bob Iger stated during his address to investors that Disney+ would be restructuring to focuson quality over quantity. He said that instead of “chasing subs with aggressive marketing and aggressive spend on content,” the company would be putting a creator-first spin on its upcoming slate. This hopefully indicates that Iger won’t rush shows into production before they’ve been developed, planned, and maximized to their greatest potential; we need moreStar Warscontent likeAndor, and less likeThe Book of Boba Fett.
What Is Paramount+ Doing?
Thus far, Paramount+ has found success in its previously existing properties; this means we’ll be getting much moreYellowstone, Star Trek, Beavis and Butt-Head,andCriminal Minds. However, a popular show likeWhy Women Killdidn’t quite generate enough interest toreceive a third seasonafter initial renewal, and the ambitious prestige seriesThe Offerunderperformed with critics and failed to receive any major awards nominations (which seems unusual for a series about the making ofThe Godfather). It’s perhaps a sign that shows that aren’t based on Paramount’s existing brands may be in danger in 2023.
