IT’S no exaggeration to say that Coronation Street is truly a national treasure – part of the fabric of this country.
For 65 years it has weathered wars, recessions, and even pandemics and through every decade it’s been there entertaining millions of viewers.
It was the only soap that remained on-air through covid when lockdowns forced productions to halt.
But sadly it is now facing a crisis that could see the end to the cobbles as we know and love it – and it’s not one of its own making.
I’ve covered soaps professionally for more than a decade and I’ve seen them at their best and their worst – but now is the most challenging time for them all.
The perfect storm of massively increased television production costs has hit a TV advertising market in free-fall – and it’s very, very bad news for Coronation Street.
As Corrie’s Sally Ann Matthews said bluntly – “ITV’s got no money”.
Big stunts like the dramatic tram crash that destroyed half the cobbles, or the huge devastating sinkhole are increasingly a thing of the past. Filming on location is all-but ruled out over cost concerns.
Budget restraints mean that there are fewer appearances of beloved characters and an over-reliance of younger, newer, cheaper stars.
And it can’t be ignored that Corrie’s core audience is ageing – and to be blunt – dying off.
The days of people gathering around the telly of an evening to watch live are over.
Despite that Coronation Street still pulls in a respectable 5m each night – more than Emmerdale and almost twice as much as BBC rival EastEnders.
It is still the most-watched show on TV – week in, week out. But it’s a far cry from the 20m who used to watch.
And with fewer viewers comes much less advertising revenue and money to pump into the show.
There was all-round shock last year when ITV boss Kevin Lygo admitted that the phenomenal Mr Bates vs the Post Office – despite being critically-lauded and a huge hit for the channel – made no money.
In fact, it lost ITV more than £1m with Lygo admitting: “Mr Bates has made a loss of something like £1m and we can’t continually do this.”
Add to that the rise of streaming and Netflix, Paramount Plus, DIsney Plus with their millions to pump into its own dramas – and you can begin to see what Corrie and the other soaps are up against.
But it’s not just that. Changes to the tax system a few years ago now meant that TV productions aren’t able to lock-in cast without employing them on salaries.
It effectively means that the cast are more free to take on other work – whether it’s acting jobs, personal appearances or lucrative social media influencing.
A source revealed: “There are soap stars who were making very good livings from their jobs – but doubling their incomes from influencing.
“You can’t blame them for quitting what can be a relentless, full-on job when a few Instagram posts can bring in more money. It’s a real worry that left bosses fearing that more could follow suit.”
Already Corrie is losing a number of stars – some through quitting and others through necessity with new boss Kate Brooks having to take tough decisions.
Colson Smith and Sue Devaney have been told they are being written out, while Charlotte Jordan and Sue Cleaver both opted to leave the show this coming year.
When Channel 4 soap Hollyoaks suffered a similar crisis under Channel 4’s own cash woes – it slashed episodes by 40 per cent, made more than 100 staff redundant and axed 20 cast members.
And with a new boss too in Hannah Cheers, the Chester-based soap has actually managed to come out of it stronger – both creatively and financially – and clawed its way back from the brink.
Corrie isn’t in those dire straights yet – but there are fears that if ITV’s cash issues continue then the decline could speed-up and the show won’t make it to broadcast anymore.
Instead there are swirling rumours that ITV’s future is more with its streaming service ITVX rather than traditional television.
One source said: “Ultimately TV is dying and streaming is the future. Even Corrie will eventually be a streaming show but that’s not a bad thing. It has had so many reinventions over the years that it will just be another evolution.”
And with viewers increasingly becoming more and more digitally-savvy – they could embrace it on ITVX and see a huge revival.
That’s not something unprecedented either.
When Neighbours was brutally axed in 2022 – it looked like the end. The same issues that have been battering Corrie, knocked Neighbours out fully.
The beloved British soap has been captivating audiences for decades.
The show follows the lives of the residents as they navigate love, loss, family drama, and community struggles.
Here’s the latest on:
Until, that is, Amazon came along with its mountains of money – and now Neighbours is consistently in the top ten most watched shows on Prime – a huge achievement.
So for all the talk of a Corrie crisis – don’t count it out – there’s life in the cobbles yet.
