Streaming Brought Hollywood to a Standstill. Now Comes the Pain.
Hollywood’s biggest strike in 60 years is exposing fault lines between the industry’s giants, with traditional entertainment companies expected to take a near-term hit while streamers such as Netflix are better positioned for a long stalemate. Though they hope for a quick resolution, entertainment executives say they are contemplating the prospect that the joint strike by actors and writers could drag on for months—even through the end of the year. Warner Bros.
Discovery, Paramount Global and Walt Disney are among the traditional companies whose broadcast-TV and movie businesses could be massively disrupted within months. Netflix and Amazon.com might not feel the pinch until 2025 or beyond, entertainment executives and analysts said. Over time, the industry’s solidarity may be tested.
That said, for now the big media and tech companies are operating in lockstep. The writers went on strike in May and the actors joined them last week, pushing for higher pay and guardrails for the use of generative artificial-intelligence technology in the industry, among other issues. In the broadcast realm, advertisers made spending commitments this spring, thinking network shows such as ABC’s “Abbott Elementary," CBS’s “Young Sheldon" and NBC’s “Law & Order: SVU" would be in production this summer in time for the fall season.
They aren’t, and instead the lineups will feature a lot of reruns, shows from streaming services, international programming and already-produced reality fare. In the premium cable and streaming world, fans could be waiting a long time for some high-end favorites to return. Warner’s HBO is set through the middle of the next year with shows such as “The Gilded Age," “True Detective" and “House of the Dragon." But a
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