Wall Street is not thrilled with the new fall television season.
On Thursday, two prominent media analysts issued reports expressing concern about the new season. So far, few new shows have taken off and ratings have tumbled at ABC, CBS and Fox in the adults 18-49 demographic that advertisers covet. Both CBS and Fox are off by more than 20% while ABC is down 13%.
NBC, which has struggled for years, is the only network to improve in that key demographic, thanks to its move of "The Voice" to the fall, the early success of the drama "Revolution" and new comedies "Go On" and "The New Normal." Overall, NBC is up 12% in 18-49 viewers compared with last season.
"There is little doubt that early 2012-13 network results have been disappointing," wrote Nomura Equity Research analyst Michael Nathanson. While Nathanson notes that it is usually best to judge a network's performance after ratings information that includes digital video recorders is factored in, he thinks those numbers won't entirely make up for the dramatic drop the networks are experiencing.