Do not adjust your TV sets: The big changes, according to some execs, need to happen on the business side for network television to survive.
The American television industry is in crisis, according to Advertising Age critic Bob Garfield, who figures prominently in The Wrap’s two-part look into the future of the industry. In fact, says Garfield, we’re seeing early signs of “the total collapse of the network television model.” —KA
If anything, things could get a lot worse before they get better. Some observers are even beginning to question whether there will ever be a turnaround, predicting that the business model which has sustained broadcasters for close to 60 years has begun an irreversible decline.
The latest blow: A disastrous upfront advertising market that saw revenues plunge an estimated 15 percent from last year, dropping from $9.2 billion in 2008 to around $7.8 billion, according to estimates by several publications.
“This is a turning point,” argues Bob Garfield, author of the just-released media doomsday tome “The Chaos Scenario” and the long-time critic for Advertising Age.