A bad sense of déjà vu is settling over the industry as the year winds down. Hollywood is in the throes of transition, and an economic downturn is on the horizon. The business is full of Under New …
A bad sense of déjà vu is settling over the industry as the year winds down.
There is no doubt that the guild is bracing for a battle. The studios are hastily starting to get there as well. The dreaded S-word — stockpiling — is happening, the industry equivalent of troops gathering at a border. Other members include many of those who were active in the drive to ban the decades old practice of talent agencies receiving packaging fees for helping to assemble TV series and movies.
The hurry-up comes at a fraught moment, when Hollywood is already feeling the effects of belt-tightening and strategy shifts among the largest streamers. Netflix, Amazon and Apple have pumped billions of dollars of new capital into the content business over the past decade. Now, as Netflix reaches the promised land of profitability, its appetite for spending to drive subscriber growth is changing.
The biggest issue in the talks, as always, will be over economic terms. Writer-centric social media channels are replete with stories of scribes receiving residual payments for streaming reruns that wouldn’t cover dinner for two at The Cheesecake Factory. The WGA, as well as the DGA and SAG-AFTRA, are surely poised to push the majors for gains in streaming residuals and royalties. As more and
Negotiators will have to come to grips with fundamental structural change, particularly in the expanding arena of television series. Mid- and upper-level TV series writers who used to bank $500,000 working on a 22-episode drama or comedy series now make half that amount working on an eight- to 10-episode series. Moreover, while the number of scripted series has expanded exponentially, the volume of writers and producers working on each series has significantly declined.
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