AMERICAN IDOL has fallen — and it can’t get up!
“We know it’s coming to the end,” Fox president and C.O.O. Chase Carey admitted today. “It’s winding down.”
Ratings for the once mighty singing competition — which drew upwards of 25 million viewers for much of its first decade — “fell faster than we’d hoped,” Carey revealed during a conference call with financial analysts and media.
“AMERICAN IDOL transcended everything else in television. It is a great show. It is a top show, but it not a show that drives the whole network as it did in years past.”
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The broadcast television unit of 21st Century Fox generated $1.63 billion in revenue during the 4th quarter of 2013, up nearly 6% increase over the year-earlier period. But operating income slipped 11% to $218 million.
Despite critical praise for shows like SLEEPY HOLLOW and BROOKLYN NINE-NINE, Fox lowered yearly guidance for 2014, as Carey conceded the network still has not discovered its next mega hit.
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