Will the Economy Affect Television?
September 19, 2008 5:50 PM
The news has been reporting a very shaky world lately. Business drama, hurricanes, economic woes. Gas is expensive, unemployment is said to be at 6.6%. People are in fear of losing their homes, there have been layoffs.
Most people reading today’s Digital Dish post will recall the last time the economy situation happened, in early 2000 following the dot-com bust. I was just a greenhorn tech executive at the time, just a few short years in my formal, higher level career. I didn’t really think I’d see economic madness and disruption twice in my lifetime but here we are.
What is always very curious to me is the reflection of the times in our world.
I don’t just mean companies losing money or all the bad news, but also in the changing look, feel and shape of what consumers need and want. Ups and downs have been reflected in products, concepts, businesses, media—nearly every element of life.
The “Atomic Fireball” candy was first born during the atomic age decades ago. Many of Shakespeare’s plays are a snapshot of modern life and times.
There have been endless examples since nearly the dawn of human existence. I’ve always found this to be very interesting, both as a creator and a consumer. Art truly does imitate life.
Lately, I’ve wondered what the shift might be resulting from the current world and climate. I believe there’s a chance of giant change in what audiences find palatable.
I also wonder if there will be an increase in television viewership as a result of Americans tightening their belts. Will low cost entertainment become a replacement for nights out on the town again? There was an article in the Sept. 6 edition of The Economist that talked about an increase in television during Ramadan, as few people go out during the month-long fast.
Could a perfect storm be brewing in a sense, one that could bring audiences back to the small screen in their homes?
I’d love to hear entertainment and TV veterans’ thoughts on this.