In comparison to The Sound of Music Live!, which was watched by over 18 million viewers and reeled in 10.6 ratings/18 share overnight, Peter Pan Live! came in at just 5.9/9, a 46 percent drop. It was seen by 9.1 million viewers overall.
This year's broadcast earned a 2.3/7 share rating in adults 18-49, while last year's The Sound of Music Live! took in a 4.6 rating/13 share in the 18-49 demo, according to Variety.
NBC entertainment chief Robert Greenblatt told Variety that the network did not expect ratings as high as last year's event. Despite the drop, Peter Pan Live! was still a major win for the network.
Excluding sportscasts, Peter Pan Live! delivered the second-highest Thursday night ratings for NBC in three years, trailing The Sound of Music Live! and Steve Carrell's final episode of "The Office" in 2011.
Peter Pan Live! finished first in each of its six half-hours, but declined in ratings throughout the broadcast. It started off at 8 PM at 7.4/12, later slipping to the 4.6/8 share for the 10:30 PM slot. NBC has already committed to another live musical event for 2015. Early reports indicate that it will be The Music Man, however, producers Neil Meron and Craig Zadan have stated that another musical may take its place.