Do you care if billion studio owners and millionaire actors—and workers who pay bribes to unions to work, are on strike? Did you miss another hate America movie? Are there not enough re-runs of fascist, totalitarian, anti-cop, anti-male TV shows? Do you care that the writer for Fallon, Kimmel and Colbert are not trashing freedom and the GOP every night? Yes, billions are being lost due to the strike. But the strike could be saving billions in NOT producing money losing TV shows and movies. This may be a net to the economy.
As for the workers on strike—all they have to do is either go back to work or find another job. It is their decision NOT to work.
“Who is the biggest loser in the ongoing Hollywood labor strikes? The answer appears to be the people of California, with one estimate putting the local economy’s losses at $3 billion in the past 100 days — a figure that is almost certain to skyrocket as the historic strikes drag on with no end in sight.
Imagine, Disney may have to delay they remake of the classic, now to be called “Non white and the Seven Pro-Nouns:.
Hollywood Strike Has Cost California Economy $3 Billion in First 100 Days
DAVID NG, Breitbart, 8/10/23 https://www.breitbart.com/entertainment/2023/08/10/hollywood-strike-has-cost-california-economy-3-billion-in-first-100-days/
Who is the biggest loser in the ongoing Hollywood labor strikes? The answer appears to be the people of California, with one estimate putting the local economy’s losses at $3 billion in the past 100 days — a figure that is almost certain to skyrocket as the historic strikes drag on with no end in sight.
The double strike by Hollywood writers and actors has taken a serious toll on California as TV and movie production has come to an almost complete halt, putting thousands of people out of work and hammering businesses that rely on local production activity to stay afloat.
Todd Holmes, a professor of entertainment industry management at Cal State Northridge, told CNBC that the Writers Guild of America strike, which began first, has cost the California economy $3 billion since it started a little more than 100 days ago.
He warned that if the strikes last until October, the economic cost could reach $5 billion.
The figures are based on a Milken Institute analysis from the 2007 WGA strike, which cost 37,700 jobs and bled $2.1 billion from the state’s economy. That strike lasted just under 100 days.
“A lot of different people are impacted surrounding the industry,” Holmes told CNBC. “And it’s causing them a lot of hardship.”
Nearly 20 percent of personal income in the Los Angeles area is earned by people who work in the entertainment industry or in industries that rely on Hollywood.
“The economic impact is even bigger because average compensation in the industry is considerably higher,” Lee Ohanian, a UCLA economics professor, told CNBC.
Hollywood studios have so far shown no indication that they are ready to concede to the demands of striking writers and actors, who have accused executives of stiffing them when it comes to compensation tied to streaming entertainment. The striking writers and actors also fear that their jobs will be replaced by artificial intelligence technology.
