Congrats, and Goodbye, to Peak TV

As “Succession” cast members marched up to the Emmy stage on Monday night to grab their statue for the show’s final season, they used it as one last opportunity to say goodbye.

Kieran Culkin, after kissing his co-star Brian Cox on the lips, gave a tearful speech while accepting the award for best actor in a drama. Matthew Macfadyen and Sarah Snook, who each won acting awards as well, gave loving tributes to fellow cast members. And Jesse Armstrong, the creator of “Succession,” capped off the night by accepting the best drama award for the third and final time and noting: “We can now depart the stage.”

It all punctuated an end-of-era feeling at the Emmy Awards on Monday night. “Succession” was one of many nominated shows that had farewell seasons, joined by a list that included “Ted Lasso,” “Better Call Saul,” “Barry,” “Atlanta” and “The Marvelous Mrs. Maisel.”

But that was not the only reason that there was an elegiac theme to Monday night. The ceremony felt in many ways like a book end to the so-called Peak TV era itself.

Nearly every year from 2010 through 2023, the number of TV programs rose in the United States, reaching 599 scripted television shows last year.

It may never hit those heights again.

For more than a year now, studios and networks — including streaming giants like Netflix, cable stalwarts like HBO and FX, and the broadcast channels — have hit the brakes on ordering new series. Executives, worried about hemorrhaging cash from their streaming services, customers cutting the cable cord and a soft advertising market, have instead placed more emphasis on profitability. The monthslong screenwriter and actor strikes last year also contributed to the slowdown.