Wiktionary
vb. (en-past of: jump the shark)
Wikipedia
"Jumping the shark" is a pejorative idiom used to describe a moment of television in which there is a gimmick or unlikely occurrence that is seen as a desperate attempt to keep viewers' interest. Therefore, moments labeled as "jumping the shark" are often considered indications that the writers have run out of ideas; that the show has strayed irretrievably from an older and better formula; and/or even that the series as a whole is declining in quality. Popularized by radio personality Jon Hein in the 1980s, the phrase is based on a scene from a fifth-season episode of the sitcom Happy Days in which the character Fonzie jumps over a shark while on water-skis.
The usage of "jump the shark" has subsequently broadened beyond television, indicating the moment when a brand, design, franchise, or creative effort's evolution declines, or when it changes notably in style into something unwelcome.