We recently compiled a list of 15 Most Watched TV Shows of 2024 and in this article, we will discuss the most watched TV show of 2024.
Overview of the Film and TV Industry
The film and TV industry is a major source of revenue generation and employment across the globe. According to a report by the Motion Pictures Association, the film and TV industry supported more than 2.74 million jobs as of 2022, directly providing around 927,000 jobs. Around 376,000 of these direct jobs entailed producing, manufacturing motion pictures, marketing, and video content. 550,000 direct jobs engaged in television shows, distributing motion pictures, and video content to viewers and consumers. This included online video services, movie theaters, television broadcasters, and cable and pay TV companies. According to the report, the film and TV industry generates more direct jobs as compared to any other major sector, including crop production, mining, utility system construction, rental & leasing services, and oil & natural gas extraction. Workers in the industry earn 62% higher salaries than the national average of overall direct jobs, and a 47% higher salary than the national average for production jobs across the country.
The industry also supported $242 billion in total wages, of which $105 billion was earned in direct wages by workers supported by the industry around the US. The film and TV industry comprises more than 122,000 businesses spread over all the states in the US. Around 92% of these are small businesses employing less than 10 people. You can also look at 25 Most Profitable TV Shows of All Time.
Rise of the Digital Entertainment Platforms
According to the 2020 THEME report by the Motion Pictures Association, the global home/mobile entertainment and theatrical market stood at $80.0 billion. The amount declined by 18% between 2019 and 2020, falling to its lowest value in 2020 since 2016. The theatrical revenue also went from $42.3 billion in 2019 to $12 billion in 2020 due to the restrictions imposed to control the spread of the COVID-19 pandemic. Theatrical revenue in 2020 only accounted for 15% of the total global entertainment revenue, down from 43% in 2019. However, the theatrical and global entertainment industry has since then been on a positive path to recovery.
The decline of conventional modes of entertainment across the globe resulted in a boom in digital entertainment, with viewers relying on video-on-demand, electronic sell-through, and streaming video options. The revenue for digital entertainment increased by 31% in 2020, touching $61.8 billion. With the total online video subscribers reaching 1.1 billion in 2020, up by 26% in 2019, the digital entertainment industry has been on an upward trajectory since then. You can also look at the 15 Most Watched TV Shows of 2023 for better insight.
Key Players in the Digital Video Streaming Market
According to a report from Fortune Business Insights, the global video streaming market size is expected to go from $554.33 billion in 2023 to $1.90 trillion in 2030. This translates to a compound annual growth rate of 19.3%. Netflix Inc. (NASDAQ:NFLX) is one of the top companies driving the global video streaming market. On April 17, Reuters reported that Netflix Inc. (NASDAQ:NFLX) saw its high growth in the second half of 2023 after the pandemic boom, accumulating around 22 million new subscribers. This was primarily driven by the company’s password sharing crackdown, which prompted its rival company, Disney+ by The Walt Disney Company (NYSE:DIS), to undertake similar steps.
Netflix Inc. (NASDAQ:NFLX) reported a revenue of $9.37 billion in Q1 2024, up 15% year over year. The company’s earnings per share also increased by nearly 50% year over year to $5.28 and beat analysts’ expectations by $0.74. Netflix’s paid users rose 16% year over year during the quarter as it added over 9 million new users, swelling up its premium subscriber base to 270 million across the globe. Moreover, the company is expanding into new verticals, particularly live sports, and is hosting the much anticipated fight between YouTuber Jake Paul and boxing legend Mike Tyson on November 15. Management is focused on growing engagement, revenue, and profit, altogether, with the group’s entrance into the live sports streaming market and is looking to mirror the dynamics of its $5-billion deal with WWE earlier in January.
While there’s a lot of new exciting things going on at Netflix (NASDAQ:NFLX), the group expects weaker subscriber growth in the second quarter due to seasonal trends. For the full-year Netflix (NASDAQ:NFLX) expects revenue growth to range between 13% and 15%.
Now that we have taken an overview of the film and TV industry, let’s look at the 15 most watched TV shows of 2024. You can also look at 10 Best TV Shows of All Time and 30 Best TV Shows of All Time.
mollie-sivaram-yubCnXAA3H8-unsplash
Our Methodology
In order to compile a list of the 15 most watched TV shows of 2024, we followed a consensus approach. We compiled a list of the most watched TV shows of 2024 after consulting five online expert sources. We then ranked them according to their IMDb rating and number of IMDb reviews. We have considered the number of IMDb reviews as the primary metric, and the IMDb rating as the secondary metric. Only those TV shows which had more than 7,000 IMDb views and 7.0 IMDb ratings were considered.
At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
The Most Watched TV Show of 2024
1. Fallout
Number of IMDb Reviews: 190,000
IMDb Rating: 8.5
Fallout ranks first on our list of the 15 most watched TV shows of 2024. The show has an 8.5/10 rating on IMDb, and a 93% rating on Rotten Tomatoes. It follows the story of a post-apocalyptic Los Angeles destroyed beyond recognition due to the effects of nuclear decimation, where the only way to survive is to live in underground bunkers. Citizens of the city endeavor to protect themselves from mutants, harmful radiation, and bandits, as they navigate their way in a dystopian world. Fallout has around 190,000 IMDb ratings as of June 2024, despite its recent release on April 10, 2024. The television show is based on the video game series of the same name by Bethesda Softworks. According to Google, 95% of viewers liked the show. It is available for streaming with a Prime Video subscription.
To look at other most watched television shows of 2024, you can check our detailed report by going to 15 Most Watched TV Shows of 2024.
At Insider Monkey, we delve into a variety of topics, however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
Disclosure: None. This article is originally published on Insider Monkey.