Hollywood bosses and writers will resume negotiations on Thursday after participants were “encouraged” by the talks
For the first time in months, Hollywood studios and striking writers have made progress in their negotiations, potentially nearing the end of a more than 140-day strike that has brought production to a halt. Writers and heads of the four major studios are expected to meet on Thursday for the second straight day as they try to negotiate a deal that ends the historic strike. The studio heads of the Alliance of Motion Picture and Television Producers – Warner Bros. Discovery boss David Zaslav, Disney boss Bob Iger, Netflix co-head Ted Sarandos and NBCUniversal studio chairwoman Donna Langley took part in negotiations on Wednesday the Writers Guild of America resumed. After the meeting, both sides issued a rare joint statement: “The WGA and AMPTP met today for negotiations and will meet again tomorrow,” they said. Neither side said anything further. But the fact that the two sides – which have at times rebuked each other over comments to the media – issued a joint statement signaled a possible sign of progress. Warner Bros. Discovery is the parent company of CNN. Separately, a person familiar with the matter told CNN that Wednesday’s talks left participants with “a feeling of encouragement.” The current standoff has now lasted more than 140 days and is approaching the longest writers’ strike ever, which lasted 154 days in 1988. What the authors are fighting forRevenue streams from traditional linear production Television is declining, and streaming services are experiencing losses despite growth. Streaming shows tend to offer shorter seasons, which reduces the amount of work available for writers. The writers have stated that they cannot afford to live under the current economic climate and the salary structure of the television and film industries, with fewer job opportunities on many shows and lower pay for many writers who do find work. There are many successful, even award-winning, authors who are no longer able to make a living from their profession. Many productions also employ fewer authors than before. And the writers union wants writers to collect residuals on streaming shows and movies when the content is sold and rebroadcast. Over the years it has been an important source of income for many writers. These days, they’re unlikely to receive any significant, if any, returns for creating original content for streaming services. Writers are also concerned about the rise of artificial intelligence and want safeguards to ensure that films and series are written by people and not machines. Studio management says it tried to offer a deal that would be mutually beneficial, However, it cannot afford to meet all of the union’s demands, including minimum staffing and length of employment when hiring authors. Not only striking in the city. Even if writers settle down soon, most television and film productions cannot resume immediately. This is mainly because the actors’ union SAG-AFTRA continues to strike and an agreement between actors and Hollywood is still not possible. They are not showing the same signs of progress in negotiations as the writers’ union. If an agreement is reached with the Writers’ Guild, the TV talk shows hosted by Bill Maher and Drew Barrymore – both of which recently withdrew plans to re-broadcast – could return quickly. Late-night shows and “Saturday Night Live” could also return soon, but may have difficulty booking celebrity guests. Actors seeking to promote films and shows have refused to appear on talk shows while the actors’ union continues to strike. A blow to the entertainment industry and the economy. The strike was economically and financially damaging. According to Kevin Klowden, chief global strategist at the Milken Institute, the economic impact of the months-long writers and actors strikes has topped $5 billion, and the pain has spread across multiple industries. Warner Bros. Discovery earlier this month cut its full-year 2023 profit forecast by $300 million to $500 million due to the ongoing strike by actors and writers on its film lineup. That has put pressure on studios to strike a deal, especially as shares of traditional studios have fallen – while Netflix shares have soared during the strike.
For the first time in months, Hollywood studios and striking writers have made progress in their negotiations and may be nearing the end of a more than 140-day strike that has brought production to a halt.
Writers and heads from the four major studios will meet for the second straight day on Thursday to hammer out a deal that ends the historic strike.
The studio heads of the Alliance of Motion Picture and Television Producers – Warner Bros. Discovery boss David Zaslav, Disney boss Bob Iger, Netflix co-head Ted Sarandos and NBCUniversal studio chairwoman Donna Langley – announced negotiations with the Writers Guild of America resumed. After the meeting, both sides issued a rare joint statement.
“The WGA and AMPTP met today for negotiations and will meet again tomorrow,” they said.
Neither side said anything further. But the fact that the two sides – which have at times rebuked each other over comments made to the media – issued a joint statement signaled a possible sign of progress.
Warner Bros. Discovery is the parent company of CNN.
Separately, a person familiar with the matter told CNN that Wednesday’s talks left participants “with a feeling of encouragement.”
The current standoff has now lasted more than 140 days and is approaching the longest writers’ strike ever, which lasted 154 days in 1988.
What the authors are fighting for
Traditional linear television revenue streams are declining, and streaming services are experiencing losses despite growth. Streaming shows tend to offer shorter seasons, reducing the amount of work available for writers.
The writers have stated that they cannot afford to live under the current economic climate and wage structure of the television and film industries, as there are fewer job opportunities on many shows and many writers who do find work are paid less. There are many successful, even award-winning writers who are no longer able to make a living from their profession.
Many productions also employ fewer authors than before. And the writers union wants writers to collect residuals on streaming shows and movies when the content is sold and rebroadcast. Over the years it has been an important source of income for many writers. These days, they’re unlikely to receive significant, if any, residuals from creating original content for streaming services.
Authors are also concerned about the rise of artificial intelligence and want safeguards to ensure that films and series are written by people and not machines.
Studio management says it tried to offer a mutually beneficial deal, but it can’t afford to meet all of the union’s demands, including minimum staffing and length of service when hiring writers.
Not the only strike in the city
Even if the writers come to an agreement soon, most television and film productions cannot resume immediately.
This is mainly because the actors’ union SAG-AFTRA continues to strike and an agreement between actors and Hollywood is still not possible. They are not showing the same signs of progress in negotiations as the writers’ union.
If an agreement is reached with the Writers’ Guild, the TV talk shows hosted by Bill Maher and Drew Barrymore – both of whom recently withdrew plans to re-air – could soon be back. Late night shows and “Saturday Night Live” could also return soon.
But they may have difficulty booking celebrity guests. Actors seeking to promote films and shows have refused to appear on talk shows while the actors’ union continues to strike.
A blow to entertainment and business
The strike caused economic and financial damage.
According to Kevin Klowden, chief global strategist at the Milken Institute, the economic impact of the months-long writers and actors strikes has topped $5 billion, and the pain has spread across multiple industries.
Warner Bros. Discovery earlier this month cut its full-year 2023 profit forecast by $300 million to $500 million due to the ongoing strike by actors and writers.
The production halt has resulted in a gap in content and little selection to fill a fall television schedule and film schedule. That has put pressure on studios to strike a deal, especially as shares of traditional studios have fallen – while Netflix shares have soared during the strike.
