美國電視黃金時段收視率下滑

A great switch-off is under way on US primetime television with a majority of cable channels losing viewers in 2015, a trend that is reshaping the media landscape and rattling investors.

美國觀衆正大舉放棄在黃金時段觀看電視節目，今年大多數有線電視頻道的收視率都出現下滑，這一趨勢正在重塑媒體格局，並讓投資者不安。

Audience data compiled by Nielsen, the research firm, show that 26 of the top 35 cable channels attracted lower average primetime audiences in 2015 compared with 2014. ESPN, Bravo, Comedy Central and MTV were aMong those hit.

研究機構尼爾森(Nielsen)編制的收視率數據顯示，2015年，在最受歡迎的35個有線電視頻道中，有26個頻道的黃金時段平均觀衆數量低於2014年，其中包括ESPN、Bravo、Comedy Central和MTV。

“This is a multiyear issue and is leading to lower industry advertising growth,” said Michael Nathanson, a media analyst with MoffettNathanson. “A business that had been growing in advertising is now struggling.”

“這種情況已持續多年，正導致行業廣告增速下滑，”墨菲特納薩森公司(MoffettNathanson)媒體分析師邁克爾納薩森(Michael Nathanson)表示，“曾經在廣告收入方面增長的行業現在步履維艱。”

Lower audience ratings and fears about “cord-cutting” — the cancellation of cable and satellite television subscriptions — hit US media shares in 2015 with the S&P 500 Media Index falling 5.5 per cent, far more than the broader market, which was flat for the year.

收視率下滑以及對“掐線”（cord-cutting，取消有線電視和衛星電視訂閱）的擔憂在2015年打擊了美國的傳媒類股，標準普爾500指數(S&P 500)的傳媒指數(Media Index)下跌5.5%，跌幅遠超大盤，今年標普500與去年持平。

Walt Disney, which recently released Star Wars: The Force Awakens , and AMC Networks, home of The Walking Dead series, are the only media companies to end the year with their shares up on 2014. Disney sparked a sell-off in media stocks this summer when it warned that subscriber growth at its ESPN network had slowed. The channel lost an estimated 3m subscribers in the year to August, said Nielsen.

2015年進入尾聲之際，股價較2014年上漲的傳媒公司只有沃爾特迪斯尼公司(Walt Disney)和AMC Networks。迪斯尼最近發佈了《星球大戰：原力覺醒》(Star Wars: The Force Awakens)，而AMC Networks的頻道播放電視劇《行屍走肉》(The Walking Dead)。迪士尼今年夏季警告稱，旗下ESPN頻道的訂戶增長放緩，這引發了傳媒股的拋售潮。尼爾森表示，ESPN在截止今年8月的一年時間裏失去了約300萬訂戶。

Lower average audience ratings for cable networks are indicative of a big shift in viewing habits. Audiences are increasingly using on-demand streaming services, such as Netflix, Amazon and Hulu, rather than tuning in to watch live television. “The world is moving to on-demand viewing,” Mr Nathanson said.

有線網絡的平均收視率下降表明，觀看習慣發生了重大轉變。觀衆日益使用Netflix、亞馬遜(Amazon)和Hulu等點播流媒體服務，而不是打開電視看直播。納薩森表示：“世界正在轉向點播觀看。”