The Impact of the Writer's Strike on the Entertainment Industry

In this episode, we delve into the aftermath of the recently ended writer's strike and its implications for the television and movie business. While the strike may be over, many TV writers are facing a harsh reality as their overall deals are not being extended to account for the five months of lost work.

The TV business, already facing challenges such as high interest rates, a focus on profitability, and fractured audiences, is now experiencing a contraction due to the writer's strike. This contraction, in turn, is impacting the overall entertainment industry.

Although the end of the strike may push some TV writers to explore opportunities in the film industry, our experts believe that it is unlikely to lead to a renaissance in the movie business. The movie industry itself is also experiencing a contraction and cutting back on spending.

However, amidst this contraction, there may be glimmers of hope. Independent financing and the involvement of outside companies like Apple and Amazon could provide opportunities for more movies to be made, potentially injecting new life into the industry.

Furthermore, the writer's strike may lead to a sense of desperation among writers, pushing them to come up with fresh and different content. This could result in a surge in the market for spec scripts as writers seek new opportunities.

Looking at the long-term impact of the strike, we discuss the potential consequences, including fewer writing jobs, higher-paying jobs, and even a potential purge of writers from the industry.

Join us as we analyze the effects of the writer's strike on the entertainment industry and explore the possibilities that lie ahead.

Matt is joined by Bloomberg’s Lucas Shaw to discuss the business of screenwriting in the wake of the end of the writers strike. Most would agree that “peak TV” is over, and most streamers are cutting back on the amount of television shows they produce each year. Matt and Lucas discuss how this retrenchment will affect the bottom line for writers, and if the slowdown in overall deals will push writers back toward movies. Matt finishes the show by giving a prediction about Beyoncé and Taylor Swift’s upcoming concert films. For a 20 percent discount on Matt’s Hollywood insider newsletter, ‘What I’m Hearing ...,’ click here. Email us your thoughts! thetown@spotify.com Host: Matt Belloni Guest: Lucas Shaw Producer: Craig Horlbeck and Jessie Lopez Theme Song: Devon Renaldo Learn more about your ad choices. Visit podcastchoices.com/adchoices