It Might Be Time To Roll Credits On The Hollywood Strikes

It Might Be Time To Roll Credits On The Hollywood Strikes
Paul Allison, CFA

3 months ago2 mins

What’s going on here?

The entertainment industry’s major studios and striking writers returned to the negotiating table for a second day, raising hopes of a Hollywood ending.

What does this mean?

Tinseltown’s standoff has been more Cure For Insomnia – the longest movie ever at 85 hours – than Fast & Furious, with writers striking for more than 100 days over issues ranging from salaries to the role of artificial intelligence in the industry. But this week, the CEOs of Disney and Warner Bros. Discovery, along with studio bigwigs from Netflix and NBCUniversal, sat at the negotiation table across from the striking union, the Writers Guild of America. And with talk of a deal potentially being finalized soon, the industry may be able to press “play” on productions sooner rather than later.

Why should I care?

The bigger picture: Once Upon A Time… In Hollywood.

La La Land used to funnel films into theaters then DVDs, and TV programs straight to millions of Americans via a cable subscription. That was a predictable and profitable business, where pretty much everyone involved cashed in. But today’s streaming culture is forcing businesses to battle it out for subscribers and wrangle a profit after forking out for pricey content. So with streamers already under pressure, anyone looking for a pay raise or better working conditions will need the fighting spirit of Jackie Chan himself.

Potential impact of strikes on streaming

For you personally: It’s Christmas, Carol!

Still, the holiday season is for turkey legs and family arguments – not deep introspection about the future of creatives and fair treatment of workers. So count your lucky stars that movie studios like Hallmark sorted out their slates of festive films before the strike started. That means you can drown out news of picket lines with instant classics like Catch Me If You Claus, Never Been Chris’d, and Haul Out The Holly come Christmas time.

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