Isn’t this puzzling in a way?
With all of us having experienced lockdowns, being at home more, etc. which you might think would result in more people watching more TV programming, why is viewership down so much?
Why are ratings for sports programming down so much, for the same reason, that more people spending more time at home should result in more TV watching?
Numerous reasons. One is that millions of people of all ages play video games. Another is that millions more use streaming services and/or do other things online. Television and movies are gradually being replaced with more interactive entertainment. Plus traditional broadcast TV and movies are seriously awful these days.
However, I also think Red Badger is right a couple of comments below yours - they don't care. The "show" isn't about ratings, it is an expression of mutual admiration. They put it on for each other and their own egos. All of us little people are supposed to look on in awe and envy. Well, I've never watched any of their "awards" shows (aka self-aggrandizing festivals). I have seen the occasional out-take or clip when someone else has pointed it out as interesting. But watch one? Ha! I'd rather re-organize kitchen cabinets, maybe clean out the garage, take the dog for a walk... Watching their BS would come in on my list of fun things to do somewhere in the neighborhood of going to the dentist or having a physical and prostate exam, maybe even around colonoscopy level fun.
People have been locked down, locked in, businesses crashed, watched BLM burning down cities, been lectured to all summer about their awful whiteness. Why would they not want to watch a bunch of pampered spoiled idiotic perverted actors lecture them some more about how wonderful they are and how awful the rube hick MAGA American peasant person is. Why indeed? Boy that really sounds fun...