 And The Wage Disparity Between Top Earners And Those At The Lower End Of The Industry){kind=link}
The ongoing strike in Hollywood could escalate into further chaos if it is not resolved soon, warns Barry Diller, Chairman of IAC and Expedia. In an interview with CBS News, he expressed concerns about the potential devastating effects if the strike continues. Diller, a former CEO of Paramount Pictures, warned that these conditions could lead to a complete collapse of the industry.
The lack of resolution between the studios and guilds in the coming months could result in a decline in shows available to audiences, leading to fewer subscriptions and more cancellations. This, in turn, would result in decreased revenue. If the strike persists without a resolution, there may be insufficient funds to revitalize the industry.
Diller highlighted several issues, including the use of artificial intelligence (AI) and the wage disparity between top earners and those at the lower end of the industry.
The strike has already caused disruptions, halting the production of many films such as “Deadpool 3,” “Mission: Impossible — Dead Reckoning Part II,” “Gladiator 2,” “Lilo & Stitch,” and “Venom 3.” It has also affected TV and web series including “Stranger Things,” “Cobra Kai,” “Big Mouth,” “The Chi,” “A Knight of the Seven Kingdoms: The Hedge Knight,” “1923,” “Severance,” “Metropolis,” and “Daredevil: Born Again,” with filming put on hold.
However, it is important to note that films that have already completed production and post-production will not be impacted by the strike, and their release plans remain unchanged.
Fran Drescher, President of SAG-AFTRA, stressed the gravity of the situation, emphasizing the need for unity and the importance of adapting contracts to address the significant changes in the industry’s business model. Drescher stated, “This is a moment of history, a moment of truth – if we don’t stand tall right now, we are all going to be in trouble.”
In summary, the ongoing strike in Hollywood involving writers and actors is driven by concerns related to AI, fair wages, and equitable profit sharing in the digital era. The collective effort aims to address these issues and ensure the industry evolves and adapts to the changing landscape.