Hollywood television and movie writers wrap up a critical vote this week as they push media companies to raise their pay or face a strike that would disrupt an industry recovering from the pandemic and under pressure to make streaming more profitable.
A prolonged strike could be costly.
Film and television work has rebounded, but movie-going remains below pre-pandemic levels, despite blockbusters such as “Avatar: The Way of Water.” The broadcast television business also is struggling, as viewers and ad dollars migrate to streaming. Sources close to studios counter that budgets are tight at a time when Wall Street wants to see profits from multi-billion dollar streaming investments that are draining balance sheets.
The Alliance of Motion Picture and Television Producers , which represents Comcast Corp, Disney, Warner Bros, Netflix and others, said in a statement that it was committed to “reaching a mutually beneficial deal.”
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