As a seasoned movie reviewer with decades of experience under my belt, I must say that Russell T Davies‘ words resonate deeply with me. Having seen the rise and fall of countless industries, I can’t help but see parallels between his analogy of the South Sea Bubble and the current state of streaming.
Prior to the Christmas special of Doctor Who becoming available on Disney+, the showrunner and head writer of the series, Russell Davies, expressed concerns about the impending downfall of the streaming business model. In an interview on Radio 4’s Today, Davies likened the current state of streaming services to the South Sea Bubble, a historic financial catastrophe that occurred when the collapse of the South Sea Company led to Britain’s first financial stock market crash in 1720. Davies stated, “It wasn’t an accident. It was a natural occurrence.
Davies expressed a somewhat optimistic sentiment that it might “die down” due to the current oversaturation of streaming platforms, as there’s an excess of streamers, excessive funding, and not everyone is tuning in, making it questionable if it can remain financially sustainable.
It appears that the showrunner isn’t the only one noticing a trend towards industry consolidation. The rise of original streaming content in the 2010s led to an impressive increase in U.S. scripted series. However, contrary to expectations, there was a surprising 14% drop in these series in the year 2023, as reported by The New York Times. Additionally, according to Ampere Analysis, streaming services produced 77 fewer seasons in 2023 compared to 2022. This decline is believed to be due to the writers and actors strikes that occurred in 2023, as well as financial pressures, as suggested by eMarketer.
The State of Streaming
Davis highlighted that streaming platforms tend to limit fair opportunities in the television industry for emerging professionals, as seen by numerous job cuts and reduced content production. Even though big-budget productions continue to thrive, lesser-known creators’ projects are being overlooked due to caution. With budget reductions, these streaming services are focusing more on shorter series runs and smaller writing teams, creating a scarcity of chances. This is one of the factors that sparked the 2023 WGA (Writers Guild of America) strike.
Writers are expressing worry that streamers tend to be less likely to take a chance on first-time showrunners, as well as those from underrepresented groups such as women and people of color, according to Vanity Fair. Davies, who has primarily created shows for British broadcasters like “Queer as Folk” and “Torchwood,” expressed a desire for a resurgence in the production of 8 p.m. dramas focusing on professions like law or healthcare, which could offer valuable learning opportunities for aspiring writers and directors.
In addition to his predictions on the television industry’s future, Davies promoted the upcomingDoctor WhoChristmas special written by Steven Moffat and starring Ncuti Gatwa as the 14th Doctor and Nicola Coughlan. The special will stream on Disney+.In speaking about the transition to the streaming platform, he said:
“The BBC made a move to go to a streamer. [The BBC] thought the show deserved to look as good as
Stranger Things
or
Star Wars
[the series]. Why should we be the humble show being made in a shoe cupboard? That’s the way everything is heading.”
Davies clarified to Gizmodo that Disney+ didn’t allocate £10 Million per episode for Doctor Who, but rather, the series has been incredibly successful with its intended younger audience. The future of Doctor Who for another season lies with the BBC.
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2024-12-07 18:02