Tag Archives: AmericanIdol

American Idol Files for Bankruptcy

The company behind one of the most popular television shows in American history has filed for Chapter 11 bankruptcy. Core Media Group, the company responsible for American Idol and So You Think You Can Dance has listed $73 million in assets and $512 million in liabilities. American Idol boomed in popularity 10 years ago, reaching 30 million viewers per episode. Just to give you an idea of how many people that is, the population of the United States 10 years ago stood at almost 300,000,000. This means roughly 10 percent of the nation regularly watched American Idol! So where did it all go wrong for Core Media Group? Television shows do not stay popular forever. Other reality television shows, events and sitcoms unseated American Idol over the past decade. By March of 2016, during its final show, American Idol only attracted 13.3 million viewers. The downward spiral in popularity cut…
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