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Kwan Weng Kin
Japan Correspondent
Japanese TV shows hit by slump
April 01, 2009 Wednesday, 02:40 PM
Kwan Weng Kin watches as Japanese presenters cry on the tube.
In Tokyo LAST Friday, when a popular two-hour mid-day TV show ended its 20-year run, there was a lot of mandatory tearing and sobbing by the show’s regulars as they each made their mini-farewell speeches. One or two even bawled uncontrollably. Sentimentality aside, there is indeed quite a lot to cry about these days as far as Japanese television shows are concerned. The decision by the network concerned to cancel that particular show had no doubt been made for purely economic reasons. Hit by a huge drop in advertising revenue as a result of the deepening recession, the network felt it could no longer afford to pay the fee demanded by the show’s well-known presenter Monta Mino. From this week, Mino’s slot was taken over by a younger and cheaper presenter. Major programming changes at all of Tokyo’s privately-owned TV networks this month reflect the huge cost-cutting that is taken place all round. One-hour drama slots during the 7pm to 10 pm Golden Time on weekday evenings have typically been slashed from three to two slots, with the vacant air time filled by live variety shows. Dramas are understandably expensive to make, especially if they feature popular actors. Live variety shows, many of them in quiz formats, are cheap by comparison especially if they feature budding actors and comedians who are in no position to demand huge fees. To minimize operating expenses, some networks have even gone as far as buying cheaper lunch boxes for staff and entertainers, and even reducing the lighting on sets. Viewers also have to put up with more live news shows and talk shows. When shows like these go on for as long as four hours, however, one can be pretty sure that much of it is going to be a big yawn. And these are just the traditional earth channels. On satellite channels, where viewership has always been lower, the networks have enthusiastically embraced one- to two-hour long travelogue shows to fill up their air time. In the past, such shows would often feature a celebrity or two, who act as guides for the viewer. To save money, the latest travelogue shows dispense with the use of celebrities altogether. Many of these shows consequently look more like extended promotional material for tour agencies. Over the past year or so, the quality of television programming on private networks have noticeably fallen. This is as much due to gradual cost-cutting as it is due to the unhealthy trend by the networks to want to turn anything – even hard political news - into entertainment by trivializing the substance. One wonders if this state of affairs will be reversed when the economy gets back into shape. Tags: economy, entertainment, japan, recession
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Japan’s closely watched tankan report was released today, a quarterly report of business sentiment, showing its sharpest drop in history, cliff diving from -24 to -58. Japan is the one nation that has profited the most from globalization, and is therefore the most severely punished now that it is in retreat. Exports have dropped by half, industrial production plunged 9% in a month, and unemployment is soaring. Q4 GDP shrunk an unimaginable 3.2%, double the fall seen in the US. The last time the numbers were this bad, two atomic bombs had just been dropped on Japan and it lost WWII. Prime Minister Taro Aso’s government is embroiled in multiple scandals, taking his approval rating down to 23%, so the ruling Liberal Democratic Party’s half century long hold on power is in doubt. Elections are due in September. Perversely, a hurried unwind of a decade long accumulation of yen carry trades has pushed the yen up just short of a 20 year high of ¥87 in January, making the country’s essential exports even less competitive, and vaporizing the foreign earnings of Japanese companies. Toyota Motors (TM) has been reduced to begging for bail out money from the government, GM style. The government has passed four bailout packages in the past year totaling 13% of GPD, none of which have so far been spent. Japan has little choice but to wait for a US economic recovery, and then grab hold of its coat tails for dear life. www.madhedgefundtrader.com.
This is a very good article.
Need that constant reminder...something has to be done. Can't let our leaders just dilly-dally. We pay our leaders here in Singapore salaries pegged to market rates after all, and mind you, they remain high even in a financial crisis. Compare this to CEOs of multi-billion companies who acklowledge that even they need a pay cut.
This is a very good article.
Need that constant reminder...something has to be done. Can't let our leaders just dilly-dally. We paid salaries pegged to market rates after all, and mind you, they remain high even in a financial crisis. Compare this to CEOs of multi-billion companies who acklowledge that even them need a pay cut.