‘Still lots to work out before we're back to seeing Hollywood as we know it’: Analyst
As Hollywood writers reach an agreement with studios to end their five-month strike, one analyst believes it will still be a while before your favourite shows are back on the air.
On Tuesday, the Writers Guild of America, which represents Hollywood writers for films and television shows, ended its five-month strike against the studios and streaming companies. The three-year deal includes union wins on pay, staff sizes and artificial intelligence.
“As exciting as it is to see one of these incredibly long strikes coming to an end, it’s worth keeping in mind that the actors are still striking,” Jamie Lumley, senior analyst at Third Bridge, told BNN Bloomberg Tuesday.
“There’s still a lot of things to work out before we’re back to seeing Hollywood working as we know it.”
Late-night programming is expected to be the first to return, but it remains to be seen when new scripted content could return, with Hollywood actors still on the picket line.
“For some of the bigger shows we’re waiting for – Netflix’s last season of ‘Stranger Things’ – they really still need the actors to get that moving,” Lumley said.
Lumley said writers represent about 10 per cent of a show’s budget, but actors can represent up to 50 per cent, which complicates the negotiations.
“There’s a lot more money on the table for how much this could potentially shift the overall budgeting for shows and movies and that’s definitely one thing worth keeping in mind,” he said.
The actors’ union and the studios do not have any scheduled negotiations on the horizon.
With files from The Associated Press