Tinseltown is not immune to the unstoppable cultural shift happening in America.
Billionaire Barry Diller Warns Hollywood Faces ‘Absolute Collapse,’ Says Top Actors and Execs Should Take 25% Pay Cut
“Former Paramount and 20th Century Fox CEO Barry Diller did not hold back during an appearance on CBS’ “Face the Nation,” issuing a bleak warning to Hollywood that the entertainment industry faces an “absolute collapse” if the double strike by the Writers Guild of America and SAG-AFTRA is not resolved soon.”
On July 14, a number of top movie and TV actors joined picket lines alongside screenwriters on the first full day of a walkout that has become Hollywood’s biggest labor fight in decades. It’s the first double-barreled strike by actors and screenwriters in more than six decades.
The two guilds have similar issues with studios and streaming services. They’re concerned about contracts keeping up with inflation and about residual payments, which compensate creators and actors for the use of their material beyond the original airing, such as in reruns or on streaming services. The unions also want to put up guardrails against the use of artificial intelligence mimicking their work on film and television.
The Alliance of Motion Picture and Television Producers, which represents employers including Disney, Netflix, Amazon, and others, has lamented the walkout, saying it’ll hurt thousands of workers in industries that support film and television production.
Mr. Diller, a former Paramount Pictures CEO, said on July 16 that the situation could compound if not resolved quickly.
“These conditions will potentially produce an absolute collapse of an entire industry,” he told CBS News.
“I would call for a September 1 deadline. There’s a strike deadline. I think there should be a settlement deadline, because unless it happens by September 1 … The truth is, this is a huge business both domestically and for world export.“
These conditions will potentially produce an absolute collapse of an entire industry.”
However, a settlement in the near future appears unlikely, he said. There’s “no trust between the parties,” and there are “existential issues” including the rise of AI, which is “overhyped to death,” Mr. Diller said.
— Sniff —
Those *poor actors* who had to survive being paid only millions of dollars … they must suffer terribly …
On a reality note … how many of them will have the opportunity to stand trial for crimes against humanity?
Lookin’ at you Hanks, DeNiro, Spooky Spacey, et al.
Can’t wait for those movies to premier.
NCSWIC