TV Networks have another year of decline

Crain's New York reports three major TV networks had another year of significant decline. The online business publication reports:

"Facing increased competition from cable and new forms of entertainment on the Internet, the broadcast networks have seen their hold on the American psyche slipping. This trend continued in 2007, when after a fairly promising upfront early in the year, the networks failed to produce the hits they needed to re-establish themselves. As of December, the networks' prime-time ratings in the key 18- to 49-year-old age category were all down: at NBC by 11%, at CBS by 10% and at ABC by 5%."

This news does not surprise me. But the data points are nce to confirm what so many of us have said would be the case. The networks, when their talent pool is not on strike, believe the route for their comeback is to give viewers the same crap they've served up for years, but to spend more on the hype to get you to watch.

I predict that we are closer than people realize to the point when their are more people watching online video than Network TV.