While a sanity check on the absolute value is good I would argue that the most impactful data presented here is the rate at which debt is growing.
Yes, debt was paid off during COVID but now that the free money has dried up people are racking up debt much quicker than before. So while the current value might be in line with previous trends the rate at which debt is accumulating is what is alarming.
It’s unlikely for that trend to slow or stop unless real wages increase, prices fall, or demand drops. We’re seeing some of that but apparently not enough.
I’m going to go out on a limb and say Netflix and other platforms probably picked up these shows/movies because they were cheap and wouldn’t need to pay out residuals if they became hits.
Kinda sucks they don’t get paid but honestly no one makes it out big on their first run. You use your new leverage to negotiate better the second time around, after you’re proven your worth.
A few exceptions to this, but more than likely the streaming platforms would have never picked up these shows were it not for the very beneficial terms.