Hollywood writers strike ‘will continue for some time’
Last week, as usual, media companies conveyed a business vibe.On Thursday, HBO hosted a red carpet premiere A documentary, while the Fox broadcast network announced a survivalist reality show called “A Star on Mars,” hosted by William Shatner.
“3…2…1…take off!” read the network’s promotional materials.
Mr. Bakish assured Wall Street that, aside from the immediate lights-out of late-night shows, “consumers won’t notice anything for a while.” Web and streaming services have plenty of content in the bank. Reality shows, news shows and some scripted series produced by overseas companies are not affected by the strike. Most of the films slated for release this year are past the writing stage.
Shares of every company involved in the failed talks rose on Friday; investors tend to like lower costs, which is what happens when production slows, such as during a strike. Analysts pointed out that if the strike dragged on until July, studios could back out of high-priced deals with writers under the “force majeure” clause of their contracts.
Luke Landis, media and internet analyst at SBV MoffettNathanson, wrote in a note Wednesday: “The sad news for writers is that they may actually be helping the streaming giant and its parent companies by announcing a strike. “
However, the writers managed to make things difficult for the studio in the first week. Apple TV+ forced to delay premiere of ‘Still’ about Michael J. Fox and his battle with Parkinson’s because Mr. Fox refused to cross the picket line. In Los Angeles, writers set up Apple TV+ setup for ‘Bootsy’ starring Maya Rudolph, leading to recording stopped. In New York, similar actions have disrupted productions on shows such as the Showtime series “Billions.” Other affected shows include “strange things“On Netflix,”hacker” During Sunday’s telecast of HBO Max and the MTV Movie & TV Awards, Going forward without the hosts after Drew Barrymore withdrew citing the strike.