The homogenization of cinema is a pressing concern, as the film and television industry leans increasingly on pre-existing intellectual property. But can originality be revived in a market dominated by familiar faces?
The Decline of Originality in Hollywood: A Look at the Numbers
The film and television ecosystem revolves around intellectual property (IP)—anything based on pre-existing material such as comic books, novels, video games, podcasts, and musicals. This IP-driven industry is propelled forward by its inertia.
The Widening Gap Between Original and IP-Based Programming
Hollywood is going through a painful contraction. The number of English language TV series airing each year has dropped every year since 2022; the number of wide theatrical releases from major studios is below pre-Covid levels; and annual domestic box office revenue from 2021 to 2024 runs $2 billion to $3 billion behind 2017-2019. The industry needs more attention and more money.
Between 2020 to 2024, only about 12 percent of new shows and movies were based on pre-existing IP, according to Parrot Analytics. After peaking in 2021, the share of new premieres based on pre-existing IP trended downward for both shows and movies.
The Commercial Success of IP-Based TV Series and Movies
Thirteen of the 30 most-watched titles on streaming (licensed series, original series, and movies) in the U.S. in 2024 were based on pre-existing material, according to Nielsen. This includes seven of the 10 most-watched streaming originals.
Of the top 66 movies to earn at least $100 million domestically in the last three years, 47 (71 percent) were a part of an established franchise, per analyst Entertainment Strategy Guy.
Fresh Approaches to Familiarity
Further embracing intellectual property does not automatically mean homogenizing programming across film and TV. The tone, style, and point of view largely depend on the creators calling the shots. New-to-screen hits can emerge from all manner of sources, providing diverse arrays of potential storytelling approaches.
Sony has helped reverse the trend of video game adaptations in recent years. HBO‘s The Last of Us represents the rare breed of elevated prestige genre fare that also delivers massive ratings. Peacock‘s Twisted Metal occupies the opposite end of the post-apocalyptic spectrum as a wacky action-fueled dark comedy.
Founded in 1946 by Masaru Ibuka and Akio Morita, Sony is a Japanese multinational conglomerate.
Initially named Tokyo Tsushin Kogyo, the company's first product was a tape recorder.
In 1958, it released the world's first transistor radio, the TR-63.
Sony's name is derived from 'sonus,' the Latin word for sound.
The company has since expanded into various sectors, including electronics, music, and film production.
Revitalizing Older IP and Balancing Originality
The track record of success at the highest levels is undeniable. This is what audiences have consistently shown they want based on money and time spent. It doesn’t preclude fresh ideas from reaching our screens, but it may help cut down on costly misfires that damage bottom lines.
When creative craftsmanship comes first, projects like Top Gun: Maverick and the new Dune films can revitalize older IP. By the same token, originality and new-to-screen concepts will always be critical to Hollywood’s sustained success.
