NEW YORK—The ballooning program costs of the streaming wars are coming to an end this year, with total media industry content cash spending forecast to grow by only 1% to $130.4 billion in 2023, way below the 14% spike in 2021 and the 24% jump in 2020 at the height of the streaming wars, estimates Robert Fishman, CFA, at MoffettNathanson securities.
“If the launch of Amazon’s $1 billion Lord of the Rings series sounded like the peak of the bubble, that’s because it likely was,” he noted. “
