Jan 18, 2023 - Economy

Streaming comes for embattled award shows

Award show viewers
Data: Nielsen; Chart: Axios Visuals

Embattled awards shows are increasingly turning to streaming services as they fight dwindling TV audiences.

Why it matters: Major shows like the Oscars and Emmys have long been big business for broadcast TV networks, which have been able to use giant ratings to charge premium ad rates.

What's happening: Netflix's deal to televise the SAG Awards could be a look into the future of the award show industry.

  • Its move away from linear TV to streaming is not the first — and probably won't be the last.
  • In 2021, the Academy of Country Music Awards left its longtime home of CBS — where it aired for 23 years — for Amazon after CBS balked at the price.

What to watch: The Golden Globes, which has no TV deal after last week's comeback show, will serve as a major bellwether for that industry's future.

  • The show drew 6.25 million viewers, according to Nielsen. The only Globes-related broadcast to do worse was the 2008 show — which was replaced by a press conference during a writers' strike.

What's next: The contracts for the Emmys, Grammys and Tonys all run through 2026, while the Oscars' current deal expires in 2028.

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