https://sputnikglobe.com/20230718/media-titan-hints-actor-writer-strikes-could-cause-hollywoods-collapse-1111955634.html
Media Titan Hints Actor-Writer Strikes Could Cause Hollywood’s Collapse
Media Titan Hints Actor-Writer Strikes Could Cause Hollywood’s Collapse
Sputnik International
Media titan Barry Diller says that the SAG-AFTRA and WAG strikes may spell doom for Hollywood
2023-07-18T03:45+0000
2023-07-18T03:45+0000
2023-07-18T03:42+0000
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screen actors guild-american federation of television and radio artists (sag-aftra)
writers guild of america
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Media titan Barry Diller, who runs media conglomerate IAC and previously worked as the CEO of Paramount and 20th Century Fox, says that the dual strikes in Hollywood may spell doom for the industry.The SAG-AFTRA (actors and artists) and Writers Guild of America (WAG) strikes are compounding issues the industry is already facing, according to Diller.Diller, responding to criticism of Disney CEO Bob Iger who called the demands of writers and actors “disturbing,” argues that both executives and high-end actors are overpaid and should take a pay cut as a show of good faith.If a compromise is not reached by September 1, Diller says there could be huge ramifications for the Hollywood industry.The media titan also addressed critics who say they do not care if Hollywood fails. “Who cares about Hollywood? Who cares about it? But the truth is, this is a huge business! Both domestically and for world exporters. … But these conditions will potentially produce an absolute collapse of an entire industry," he said.
https://sputnikglobe.com/20230715/celebrities-hit-the-picket-line-as-sag-aftra-begins-strike-1111885274.html
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hollywood strike, actors strike, writers strike, protest, hollywood shuts down
hollywood strike, actors strike, writers strike, protest, hollywood shuts down
Media Titan Hints Actor-Writer Strikes Could Cause Hollywood’s Collapse
The Writers Guild of America started striking on May 2, 2023, and by July 14, SAG-AFTRA joined the picket line. It was the first time in 60 years that both writers and actors went on strike at the same time.
Media titan Barry Diller, who runs media conglomerate IAC and previously worked as the CEO of Paramount and 20th Century Fox, says that the dual strikes in Hollywood may spell doom for the industry.
The SAG-AFTRA (actors and artists) and Writers Guild of America (WAG) strikes are compounding issues the industry is already facing, according to Diller.
“You had Covid, which sent people home to watch streaming television and killed theaters,” Diller said. “You’ve had the results of huge investments in streaming which have produced all these losses for all these companies that are now kind of retrenching. So at this moment, it’s kind of a perfect storm.”
Diller, responding to criticism of Disney CEO Bob Iger who called the demands of writers and actors “disturbing,” argues that both executives and high-end actors are overpaid and should take a pay cut as a show of good faith.
“Everybody’s probably overpaid at the top end,” Diller contends. “The one idea I had is to say, as a good faith measure, both the executives and the most-paid actors should take a 25% pay cut to try and narrow the difference between those who get highly paid and those that don’t.”
If a compromise is not reached by September 1, Diller says there could be huge ramifications for the Hollywood industry.
The media titan also addressed critics who say they do not care if Hollywood fails. “Who cares about Hollywood? Who cares about it? But the truth is, this is a huge business! Both domestically and for world exporters. … But these conditions will potentially produce an absolute collapse of an entire industry," he said.
