The impact of the WGA and SAG-AFTRA strikes on 2024’s TV content was profound, contributing to a continued decline in production, though at a reduced pace. US-produced TV premieres dropped 7% in 2024 compared to 2023, a less drastic reduction than the 17% drop seen in 2023 from 2022, according to Luminate’s latest report. The contraction was driven by decreases in content from cable networks and SVoD platforms, despite broadcast television experiencing an unexpected resurgence.
Netflix’s US-produced shows also contributed to this decline, with output falling 22% in 2024 compared to 2022. Nevertheless, Netflix remains the leading producer among major streaming platforms, outpacing the seven other key players, all of which—except Prime Video—reduced their output from peak levels.
Unscripted TV production, though less affected by the strikes, still saw a steep decline in 2024. US-produced unscripted premieres dropped more than 8% year-over-year, compared to just a 2% dip for scripted series across broadcast, cable, and SVoD. Cable’s contraction was a major factor, with unscripted cable premieres down 15% from 2023. Broadcast networks saw an 8% decline in unscripted output, while SVoD platforms recorded a 9% increase. In a rare positive trend, US broadcast TV output rose nearly 25% year-over-year, largely due to the strikes delaying season premieres from late 2023 to early 2024.
Franchises remained significant drivers of streaming engagement in 2024, but some major properties underperformed. The live-action Marvel series "Echo" and "Agatha All Along" failed to match the viewership of 2023’s "Loki" Season 2 and "Secret Invasion." Similarly, the Star Wars franchise faced challenges. "The Acolyte," despite being Disney+’s second-biggest original in 2024, was canceled after its first season due to waning viewership. "Star Wars: Skeleton Crew" has also struggled to gain traction. With only one live-action Star Wars series, "Andor" Season 2, scheduled for 2025, Disney appears poised to reassess its strategy for the franchise.
In contrast, adaptations of beloved intellectual property have found success. "Percy Jackson and the Olympians," released in late 2023, became Disney+’s most-watched streaming original in 2024. The show’s faithful adaptation of the popular novels resonated with fans. On Prime Video, the dystopian video game adaptation "Fallout" was a major hit, while literary detective dramas like "Reacher" and "Cross" continued to attract audiences.
The report highlighted striking similarities in genre compositions across leading streaming platforms. Drama dominates, crime-themed programming holds steady, and comedy remains underrepresented. Disney+ distinguishes itself slightly, being the only major platform with double-digit representation in science fiction content.
TOP U.S. STREAMING SERIES OF 2024
Netflix dominated the rankings, claiming 7 out of the top 10 spots. At the top is "Fool Me Once," a British series based on a Harlan Coben mystery novel, which premiered on January 1, 2024, and sustained strong weekly viewership ranging from 24 to 58 million minutes. Netflix's other major hits include "Bridgerton" Season 3, which released in May and achieved the second spot, and the miniseries "The Perfect Couple," which ranked fourth after its September release.
Taylor Sheridan's shows made significant contributions as well, with "Landman" (Paramount+) securing the third spot, despite only eight episodes being released in 2024. Additionally, "Tulsa King" Season 2, though slightly behind its first season's performance, still made the list at number five.
Netflix’s "Monsters: The Lyle and Erik Menendez Story," "The Gentlemen," and "Griselda" also ranked prominently, as did Prime Video's "Fallout," which emerged as a standout hit despite initial expectations favoring "The Rings of Power." Notably, "Squid Game" Season 2, which premiered on December 26, was too late for inclusion, though early viewership trends suggest massive success.
TOP U.S. STREAMING MOVIES OF 2024
In movies, older licensed titles outperformed newer streaming originals. Disney+'s "Moana," released in 2016, led the rankings with 9.36 billion minutes watched. Its enduring popularity was noted as a significant factor behind the success of its sequel at the box office. "Oppenheimer," available on Peacock and Prime Video, ranked second with 6.85 billion minutes watched. The Best Picture winner demonstrated its appeal through strong viewership after its release on Peacock, contributing to a surge in subscriptions during that time.
Other notable entries include "Trolls Band Together," "The Super Mario Bros. Movie," and Netflix's "Carry-On," the only original streaming movie on the list, which managed an impressive fifth-place finish despite its mid-December release. Disney+ claimed three additional spots with family favorites like "Cars," "Minions," and "Encanto."
Luminate highlighted trends such as the persistent popularity of animated classics and the dominance of Netflix in both original series and movies. Prime Video’s "Road House" narrowly missed the top 10, securing the 11th position. Overall, the rankings reflect the evolving dynamics of the streaming landscape, with a mix of fresh releases and enduring classics captivating audiences.
Strikes, evolving audience preferences, and shifts in platform strategies have shaped a year marked by contraction in production but also surprising successes. Franchises struggled to maintain momentum, while adaptations of beloved IPs found new audiences. Netflix continues to dominate both series and movies, showcasing its resilience, while competitors like Disney+ and Prime Video have leaned into a mix of nostalgia and innovation. As we look to 2025, the industry faces a critical juncture: balancing the demand for fresh, compelling content with the need to adapt to changing viewer habits and economic realities.
