Can the Olympic torch keep the flame of live TV alive?

The days of universally cherished television moments are fading into the annals of nostalgia. Most of us remember when everyone knew the latest catchphrase from their favourite sitcom or could hum along to the jingle of a popular ad. But those shared cultural touchstones are becoming increasingly rare in today’s fragmented media landscape. In fact, today, these cultural moments are more likely to spring from a trending sound on TikTok than TV.

The truth is, as humans, we thrive on collective experiences. Whether it’s the camaraderie of attending a live event, the shared laughter of a comedy show, or the collective gasp at a plot twist in a beloved drama, there’s something uniquely powerful about knowing that millions of others are sharing the same moment with us. It’s a sense of connection that transcends individual enjoyment and taps into a deeper, more primal need for communal bonds.

As the proliferation of streaming services and on-demand content continues to fragment our viewing habits, those collective experiences have become increasingly elusive. With hundreds of scripted shows vying for our attention and audiences dispersing across a myriad of platforms, the once-universal watercooler moments have become few and far between. Today, there are simply so many shows, that it’s very possible no one else we know will have seen the one we’re watching, diminishing the opportunity for conversation and connection. In 2009, there were 210 scripted shows on US television. By 2022, there were 600.

Consider the decline in TV viewership numbers for traditional television events. At its peak, I Love Lucy (1950s), was watched by an incredible 67% of Americans, whereas today’s top-rated US show – Big Bang Theory – gets just an 11% share. In fact, We Are Social’s recent Digital 2024 Australia report shows the average time spent watching television, including both broadcast and streaming services, currently stands at 3 hours and 17 minutes – a 15% decrease year-on-year, equivalent to a reduction of 35 minutes in daily viewing time. Even the broadcast of this year’s Oscars only attracted a modest 19.5 million viewers in the US, despite 2023 being a blockbuster year for film and a live performance from Hollywood heartthrob, Ryan Gosling.