The fiscal year 2023 earnings reports for the nation’s largest broadcast media companies have been released, and Wall Street financial house Moffett Nathanson has combed through the numbers and put its lenses on content spending.
Last year, they note, saw the end of several years of significant content spending increases across the industry, fueled by pivots to Direct-to-Consumer platforms, new entrants to the media space and fierce competition for subscribers.
“The limited (or more likely, negative) ROI of this incremental spend, as well as maturation and cooling of the ‘Streaming Wars’ likely would have put an end to the double-digit
growth had the Hollywood strikes of last year not gotten there first,” Senior Analyst Rob Fishman notes.
