Billionaire Warns Hollywood Faces ‘Absolute Collapse’ If Strike Isn’t Resolved
https://img.theepochtimes.com/assets/uploads/2023/07/15/id5400835-hollywood-strikes-1-1200x800.jpgThe two guilds have similar issues with studios and streaming services. They’re concerned about contracts keeping up with inflation and about residual payments, which compensate creators and actors for the use of their material beyond the original airing, such as in reruns or on streaming services. The unions also want to put up guardrails against the use of artificial intelligence mimicking their work on film and television.
The Alliance of Motion Picture and Television Producers, which represents employers including Disney, Netflix, Amazon, and others, has lamented the walkout, saying it’ll hurt thousands of workers in industries that support film and television production.
Mr. Diller, a former Paramount Pictures CEO, said on July 16 that the situation could compound if not resolved quickly.
“These conditions will potentially produce an absolute collapse of an entire industry,” he told CBS News.
“I would call for a September 1 deadline. There’s a strike deadline. I think there should be a settlement deadline, because unless it happens by September 1 … The truth is, this is a huge business both domestically and for world export.
Yes, Please.