Is Big Pharma's Next Target Already in Play?

A small biotech may have cracked one of medicine's biggest problems-how to deliver cancer drugs safely and effectively. With patented technology and promising early data, it's already catching the attention of Big Pharma.

They are TV's ghosts — networks that somehow survive with little reason to watch them anymore

DAVID BAUDER
March 01, 2024

NEW YORK (AP) -- The list of memorable characters and personalities who entered popular culture through cable television is long: Honey Boo Boo. Tony Soprano. Lizzie McGuire. Don Draper. Jon Stewart. Beavis and Butt-Head. Chip and Joanna Gaines. SpongeBob SquarePants.

Pick your own favorites. Chances are there won't be many more to join them.

Few cable and satellite networks are a force anymore, the byproduct of sudden changes in how people entertain themselves. Several have lost more than half their audiences in a decade. They've essentially become ghost networks, filling their schedules with reruns and barely trying to push toward anything new.

Says Doug Herzog, once an executive at Viacom who oversaw MTV, Comedy Central and other channels: "These networks, which really meant so much to the viewing public and generations that grew up with them, have kind of been left for dead."

As they fade, so are the communities they helped to create.

WHAT HAS BEEN LOST?

Pockets of success remain, notably with lifestyle and news programming. And it's not like there's nothing to watch. You'll find more options on Netflix than a diner menu.

Yet something undeniably has been lost. Stewart's triumphant return to Comedy Central's "The Daily Show" this winter only begs the question: Did it really have to be this way?

Cable TV primarily took flight in the 1980s, breaking the iron grip of ABC, CBS and NBC. Essentially the first fragmentation of media, cable brought people with common interests together, says Eric Deggans, NPR television critic.

"People who were previously marginalized by the focus on mass culture suddenly got a voice and a connection with other people like them," Deggans says. "So young music fans worldwide bonded over MTV, Black people and folks who love Black culture bonded over BET, middle-aged women bonded over Lifetime and fans of home remodeling convened around HGTV and old-school TLC."

Nickelodeon and Disney became de facto baby sitters. CNN, Fox News Channel and MSNBC changed the nation's political discourse. ESPN occupied sports fans. HBO and Showtime, and later networks like FX and AMC, offered edgier fare that broadcasters shied away from.

Networks were endlessly malleable, too. Once MTV recognized there wasn't much money in music videos -- people would change channels when a song they didn't like came on -- the network became a relentless arbiter of cool. Generations had their own touchstones in programs like "Punk'd," "The Osbournes" and "Total Request Live."

Now MTV is a ghost. Its average prime-time audience of 256,000 people in 2023 was down from 807,000 in 2014, the Nielsen company said. One recent evening MTV aired reruns of "Ridiculousness" from 5 p.m. to 1:30 a.m.

The general interest USA Network's nightly audience tumbled 69% in the same time span, and that was before January's announcement that viewer-magnet "WWE Raw" was switching to Netflix.

Without favorites like "The Walking Dead" or "Better Call Saul," AMC's prime-time viewership sunk 73%. The Disney Channel, birthplace to young stars like Miley Cyrus, Hilary Duff and Selena Gomez, lost an astonishing 93% of its audience, from 1.96 million in 2014 to 132,000 last year.

TBS, TNT, History, Lifetime, FX, A&E, BET, E! Entertainment, SyFy, Comedy Central, VH1 and Discovery have all lost at least half of their 2014 audience.

For many, most of the schedules are big blocks of reruns: "Seinfeld" and "The Office" on Comedy Central, "The Big Bang Theory" and "Young Sheldon" on TBS. Tyler Perry movies dominate. Cheap and cheesy nonfiction fills time: "90 Day Fiance," "Prison Brides," "Married at First Sight," "Contraband: Seized at the Border."

That's not appointment TV. It's accidental. Ghosts.

MAYBE GOING DOWN THIS ROAD WAS INEVITABLE

With the explosion of Netflix, the giant companies that dominate the entertainment industry saw that as the future. To a large extent, they've concentrated time, energy and resources on these services, launching a competition that still hasn't shaken out -- no one knows yet how many streaming services the market will support and which ones will survive.

Was the downfall of cable the inevitable result? "That's the gazillion-dollar question," Herzog says.

"The conglomerates, they definitely jumped the gun, I think, in shifting their assets away from the cable networks and left them as zombies," says Michael Schneider, television editor at Variety. "They're paying the price."

In 2015, some 87% of American homes had a cable or satellite television subscription, according to the Nielsen company. By 2023, only 47% of homes subscribed. If you include services like Hulu or YouTube TV, the percentage of homes with access to multiple channels was 62% last year, Nielsen said.

If fewer people have cable, then obviously fewer are watching. But it's a classic chicken-and-egg situation: Have the number of subscribers dropped because people feel the networks have less to offer? Or is less being offered because there are fewer viewers?

To illustrate how fast habits are changing, a survey taken in January by the digital marketing agency Adtaxi found that 73% of viewers turned to streaming before cable or broadcast when they sat down to watch TV. Only a year earlier, 42% said streaming was their default choice.

Much of what people stream are programs originally on broadcast and cable. That provided a windfall hard to resist for creators of those shows, one top executive said. The tradeoff was getting people accustomed to a different kind of viewing experience -- watching what they wanted, when they wanted it, even binging. All without the distraction of commercials, at least at first.

Remember couch potatoes? Channel surfers? Now the " Netflix and chill " generation has taken over.

That's more than trading descriptive phrases. Reclining before a big screen with a remote control, searching for something to do, is an activity fading with the times, says John Landgraf, chairman of FX Content & Productions and a big-picture thinker of the media industry. It was Landgraf who coined the phrase "peak TV" to describe an overwhelming flood of television programming.

Streaming is more pro-active, he says. Tik-Tok, YouTube and gaming are supplanting television in occupying people who are simply looking to fill some time. "They figured out passivity," Landgraf says. He says he's optimistic FX's parent, Disney, will solve this puzzle.

That's no small thing when the industry is built upon advertisers who pay to reach those consumers -- active or passive.

While streaming offers viewers the convenience of making their own schedules, its algorithms are designed to push people into ever-smaller circles, suggesting programming similar to what they've already watched before, Landgraf said. It further lessens the opportunities for communal viewing experiences, or stumbling upon something that broadens your outlook.

"Collectively," he says, "we've lost something."

THE ROAD TO STREAMING -- AND TO THE FUTURE

Landgraf's FX is one of the few companies keeping its brand strong while making a transition to streaming. "The Bear," which just won an Emmy for best comedy, is an FX show but available exclusively on the Hulu streaming service. "American Horror Story" is on the actual FX television network. Several shows toggle between both.

HBO is also making the transition well, while Bravo programming is a strong draw for Peacock. Nickelodeon and MTV are among the brands having a harder time; S&P Global last week put their parent company, Paramount, on a negative credit watch, citing "the deterioration of the linear television ecosystem."

There are still networks keeping the light on. Fox News Channel is cable's top-rated network; news-oriented outlets thrived during the Trump administration but have faded recently. HGTV's home remodeling holds up. The Hallmark Channel, with wholesome stories aimed at older women, averaged 929,000 viewers in prime-time last year, up 12 percent from a decade ago.

Despite the exodus of viewers, ghost networks survive because they still make money for their owners. Cable and satellite systems pay fees to carry them -- passed on to consumers, of course -- and advertisers buy commercials.

When that changes, all bets are off, and odds are the ghosts will move on.

___

David Bauder covers media for The Associated Press. Follow him at http://twitter.com/dbauder

Continue Reading...

Popular

Wall Street Enters Its Strongest Month: These 7 Stocks Often Crush It

November is historically Wall Street's strongest month. These 7 stocks often delivered standout gains in recent decades.

A Tiny Biotech Just Posted 10× Stronger Cancer Results - Ad

Early studies show this breakthrough delivery platform would make cancer treatments safer and more powerful. Now, with Big Pharma watching closely, investors are starting to take notice of what could be the next major biotech story.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Cathie Wood Bets Big On Jack Dorsey's Bitcoin-Heavy Block, Adds Amazon And Alibaba — Sells Shopify, Surging Palantir

On Monday, Cathie Wood-led Ark Invest executed significant trades, including a notable purchase of shares in Amazon.com Inc. (NASDAQ:AMZN), Block Inc.

Central Banks Are Buying More Gold Than Ever-And This U.S. Miner Is Ready to Oblige - Ad

Central banks are rapidly increasing their gold reserves-now nearly 20% of global assets. With rising demand and geopolitical pressure, U.S. gold supply is becoming more strategic than ever.

Trump's $8.5 Billion Deal With Australia Challenges Chinese Dominance

Trump and Albanese signed a partnership to secure critical mineral supply chains and strengthen defense cooperation.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Nvidia, TSMC Unveil The First US-Made Blackwell Wafer, But Analyst Ming-Chi Kuo Flags This Overlooked Detail

Nvidia Corp (NASDAQ: NVDA) has introduced the first U.S.-made Blackwell wafer, a crucial component for AI chips, at Taiwan Semiconductor Manufacturing Co's (NYSE: TSM) facility in Phoenix.

Gold Bars Are Pouring, but This Miner is Still Priced Like a Startup - Ad

You'd expect a gold miner with production, a full refinery, and big-name investors to be trading at a premium. But this one? It's still under $1

A cargo aircraft skids off a Hong Kong runway into the sea, killing 2 people

HONG KONG (AP) — A cargo aircraft skidded off a Hong Kong runway into the sea when landing early Monday, killing two people.

Meta Lures Gen Z Talent With Six-Figure Salaries Amid Shrinking Job Opportunities — Here's How Much It's Offering

Meta is reportedly offering hefty paychecks for entry-level software engineering roles, a move seen as a response to the challenging job market for recent graduates.

Is Nvidia About to Trigger Another 150X Opportunity? - Ad

Nvidia gave investors a chance to make more than 150 times their money with its AI chips known as graphic processing units. Legendary investor Louis Navellier believes this new invention could be even more revolutionary and mint a new wave of millionaires.

Trump Commutes Former Rep. George Santos' Seven-Year Prison Term: '... Has Been Horribly Mistreated'

President Donald Trump announced on Friday that he commuted the prison sentence of former congressman George Santos (R-N.Y.), ordering his immediate release.

Looking For The Next Beyond Meat? Here Are The Top 10 Most Shorted Stocks

Here's a look at the most heavily shorted stocks in the market as investors look for the next Beyond Meat.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Loggins demands removal of Trump's AI-generated video using ‘Danger Zone’

NEW YORK (AP) — Kenny Loggins is objecting to the use of his music in a social media post showing an artificial intelligence-generated video of dumping excrement from a fighter jet on last weekend's .

Trump's immigration crackdown weighs heavy on the US labor market

Maria worked cleaning schools in Florida for $13 an hour. Every two weeks, she’d get a $900 paycheck from her employer, a contractor. Not much — but enough to cover rent in the house that she and her 11-year-old son share with five families, plus electricity, a cellphone and groceries.

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch.

Edmunds compares the new BMW X3 and Mercedes-Benz GLC

Compact luxury crossovers are ideal if you’re seeking a compelling blend of utility and style without having to pay full-size luxury SUV pricing. The has been a front-runner since the original model’s introduction in 2003, but it continues to face stiff competition from the .

Dogecoin's $0.21 Problem: Why This Analyst Says Keep It On Your Radar

On Monday, social media influencer Ali Martinez, known popularly on X as Ali, drew the attention of the crypto community to an important resistance level for Dogecoin (CRYPTO: DOGE).

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

IonQ, D-Wave Quantum, Rigetti Computing Surge Over 11% Pre-Market: What's Going On?

Shares of IonQ Inc. (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS) surged in premarket trading on Thursday.

Bitcoin's Bull Run Is Now At The Fed's Mercy: Here's What That Means

Liquidity shifts from the Federal Reserve could determine whether Bitcoin (CRYPTO: BTC) reverses its downtrend or enters a 2019-style correction.

Is Big Pharma's Next Target Already in Play? - Ad

A small biotech may have cracked one of medicine's biggest problems-how to deliver cancer drugs safely and effectively. With patented technology and promising early data, it's already catching the attention of Big Pharma.

Nation's largest fleet of police Cybertrucks to patrol Las Vegas

LAS VEGAS (AP) — The nation's largest police fleet of Tesla Cybertrucks is set to begin patrolling the streets of Las Vegas in November thanks to a donation from a U.S. tech billionaire, raising concerns about the blurring of lines between public and private interests.

Trump Says He Knows 'Very Little' About 'Huge' Crypto Industry, But Glad His Sons Are Involved

President Donald Trump expressed strong support for the cryptocurrency industry in an interview aired Sunday, stating that under his administration, the U.S. has emerged as the global leader in the sector.

A Tiny Biotech Just Posted 10× Stronger Cancer Results - Ad

Early studies show this breakthrough delivery platform would make cancer treatments safer and more powerful. Now, with Big Pharma watching closely, investors are starting to take notice of what could be the next major biotech story.

San Francisco mayor proposes denser housing to tackle affordability crisis

SAN FRANCISCO (AP) — San Francisco Mayor Daniel Lurie is trying to get more homes built for people like Liam Murphy: a fifth-generation city kid who found himself repeatedly outbid for tiny two-bedroom houses that wound up selling for $1.6 million.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Chinese leader Xi Jinping outlines 5-year plan at closed-door Communist Party meeting

BEIJING (AP) — Chinese leader Xi Jinping delivered a speech Monday on the opening day of of the ruling Communist Party to approve a draft plan laying out its goals for the country over the next five years.

Bill Ackman's Hertz Stake Is Starting To Look Like His Next Chipotle Moment

Bill Ackman's investment in Hertz may be the next Chipotle moment as the rental-car company sees a surprise profit and a 40% stock surge.

Central Banks Are Buying More Gold Than Ever-And This U.S. Miner Is Ready to Oblige - Ad

Central banks are rapidly increasing their gold reserves-now nearly 20% of global assets. With rising demand and geopolitical pressure, U.S. gold supply is becoming more strategic than ever.

Denny's to be acquired and taken private in a deal valued at $620 million

Denny's said Monday that it's being acquired by a group on investors in a deal that will take the breakfast chain private.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service