Hollywood’s ongoing double strike could soon spell doom for the entertainment industry, several studio execs have warned — predicting fewer movie releases and more reruns early next year if the situation isn’t resolved by September.
The forecast, broadcast on Tuesday by three prominent studio chiefs, comes as the dueling strikes by Tinsel Town’s writers and actors brought the industry to a virtual standstill last week.
Following the Screen Actors Guild’s decision to stand in solidarity with the Writers’ Guild – which has been on strike since May – numerous big-budget films in the making had to be shut down immediately.
Productions affected included the anticipated sequels Deadpool 3 and Gladiator 2, as well as the Tom Hardy-led Venom 3. Twisters – an update of the 1996 film starring Daisy Edgar-Jones – was also on hiatus. TV series like Sydney Sweeney’s Euphoria weren’t spared either, with season three of the show being pushed back to 2025.
And while Labor Day is only six weeks away, the delay in releasing affected projects could be as much as six months due to the work required to stage production of major movies and TV shows.
For an industry that was already struggling due to the rise of streaming, the closures are particularly problematic. Speaking anonymously The New York Times On Tuesday, experts within the industry said the next few weeks will be crucial.
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Experts say the dual actors-writers strike could last for months, predicting fewer movie releases and more reruns early next year if the situation isn’t resolved by September
Numerous big-budget films in the making had to be stopped immediately. Affected productions include the anticipated sequel Deadpool 3
Citing factors such as the excessive influence of the Actor’s Guild and the fact that hundreds of scripts are now left in limbo, they said that if the strikes are not resolved by Labor Day, they will begin to affect America at large.
Around that time, three separate studio chairs said the movie and TV show release calendar for 2024 could get messed up beyond repair, leaving the fate of projects up in the air, much as it did during the pandemic.
Being closed for a month or so doesn’t matter to them, The Times reported – with all three executives saying the studios could easily put off spending money on pre-production and bidding on scripts until the industry picks up again.
They added that before they revisit projects that are still in the works, they could drop even more expensive ones.
One figure, the head of a chain of 50 cinemas, told the newspaper: “If it stays short enough to avoid an overwhelming backlog of films, the situation can be managed.”
But if the twin strikes only last for two months, they said, it’s a different story.
By then, executives said next year’s movie and TV show release calendar could become so hopelessly wrapped up that studios are likely to use the shutdown as an opportunity to save money during a period of uncertainty.
Studios will face rows over productions starting in the fall, with stars still working on films whose completion was delayed by the strikes. There will also be logistical issues. Soundstages that should be free for new movies and TV shows to begin filming will still be filled with production sets that have been severely delayed in completion.
More importantly, the industry insiders mentioned how several high profile actors such as Susan Sarandon and SAG boss Fran Drescher – and more importantly their fan bases – are now behind the writers in their demands, changing the landscape of the conflict. changes.
Series like Sydney Sweeney’s Euphoria were not spared, with season three of the show pushed back to 2025
Filming for Gladiator 2, starring Paul Mescal (pictured), has also been temporarily called off due to future uncertainty
One figure, the head of a chain of 50 cinemas, told the newspaper: ‘If it stays short enough to avoid an overwhelming backlog of films, the situation can be managed’
The writers’ guild’s strike began in May and intensified last week as the actors granted their demands. Experts said a strike in September will hurt network television, which needs actors in addition to scripts for new shows coveted by advertisers
When writers were the only ones on strike, studio bosses said, they felt a realistic bipartisan solution was still viable — after an unnamed executive made waves days ago by telling Deadline that the studios would “bleed out” the less-monetary writers until they are starting’. lose their apartments’.
But with the added star power of high-profile celebrities, these writers have gained a better foothold in their quest for higher wages to combat inflation and guarantees for their future livelihoods amid new developments like AI and streaming, the executives said.
Furthermore, if actors aren’t back to work by the fall, analyst Michael Nathanson said, several studios will likely choose to save the money they would otherwise have spent on pre-production.
In particular, he said a September strike would hurt network television, which needs actors for new shows coveted by advertisers.
If they’re not back filming by Labor Day, TV viewers can expect shows to suffer perpetual delays and instead be blessed with a constant stream of reruns.
As this pressure continues to mount, studio executives are urging – at least publicly – both facets of the Hollywood movie industry to get back to work.
Industry insiders cited how several high-profile actors like Susan Sarandon and SAG boss Fran Drescher (pictured last week) — and more importantly their fanbases — are now behind the writers in their demands, changing the landscape of the conflict. changes
Drescher leads the actors’ union in a joint strike with writers, marking Hollywood’s biggest labor dispute in sixty years
Bob Iger, the boss of The Walt Disney Company and its streaming service Disney Plus, said in an interview last week at the annual Sun Valley Conference that the strike would have a “deeply damaging” effect on both the film and TV industries. .
And as this crucial deadline approaches, there’s little indication that a deal is close.
Both sides have blamed the other for the lack of resolution – with strikers portraying the likes of Iger and Warner Bros’ David Zaslav as villains.
Meanwhile, the state of the industry and its countless unreleased projects continues to suffer – and several experts are now saying the double actor-writer strike could last for several months.
Ellen Stutzman, the chief negotiator for the Writers Guild of America, criticized the current standstill in comments to the Journal.
“Making nothing as a cost-cutting strategy is foolish as the fall TV season quickly approaches and advertisers and consumers expect new programs,” she said of the impasse.
Nathanson added to the LA Times, “We’re looking at class struggle,” “Working class people are trying to take their anger out on the studio executives.”
That said, both parties seem to agree on one thing: Hollywood’s failure to resolve the crisis in a timely manner will affect everyone.
Jonathan Taplin of USC’s Annenberg Innovation Lab told the Journal Tuesday that he doesn’t predict a painless solution that will emerge within the next few weeks.
“This isn’t going to end well.”