Networks risk alienating audiences and advertisers by relying heavily on unscripted shows and reruns, which Reese aptly noted could further accelerate the shift away from linear TV.Īnd while streaming companies have deep content libraries and large production pipelines, they're not completely insulated from strikes either, Gross noted. Scripted TV shows originally set to air this fall are also getting booted because of the strikes. That's a crushing blow for theater chains that are left empty-handed in the second half of the year. Without the crucial promotional lever of press tours with Hollywood stars, some studios are already delaying the release of fall movies, betting that a drought of films in late 2023 is preferable to a string of box-office bombs. "The movies before that don't have the big names that require a press tour to the same extent that the November titles and December titles do." "It just has to end before October because you really need the press tours around the November releases," Reese said. Reese and colleague Michael Pachter warned fall movies could flop because actors won't be able to generate publicity for their work, which is what helped make Barbie a hit. Movie theaters and studios would be among the first casualties from the production side if the labor conflict drags on. And while media firms may not feel the squeeze yet as they work their way through sizable backlogs of content, they'll suffer if strikes last for months. Many actors and writers can lean on regular residual payments from shows or movies they've already made, but the longer the strike goes the emptier their pockets get. Neither side is blinking in the high-stakes stand-off between the guilds and the Alliance of Motion Picture and Television Producers, and it's unclear which side of the picket line holds more leverage. Strikes put the pressure on struggling media companies Gross, head of the movie consultancy Franchise Entertainment Research and a former studio marketing executive, via email. "The pandemic wreaked havoc on the release calendar - a prolonged strike would be equally damaging," remarked David A. The town is at a standstill as writers and actors strike in hopes of securing better pay, protections from replacement by artificial intelligence, and other concessions from studios.įour industry veterans Insider spoke with unanimously agreed that unless the strikes are resolved soon, the movie industry's much-needed revival will fizzle out. "Barbenheimer" was a much-needed distraction from the turmoil that has engulfed Hollywood in recent months. But she's skeptical their success will trickle down to other titles. It often indicates a user profile.Īfter plummeting during the pandemic, movie sales are slowly recovering.īoth movies benefited from the so-called "Barbenheimer" trend that went viral on social media, in addition to can't-miss marketing campaigns and fan support, said Alicia Reese, an equity research analyst covering the media and entertainment industry at Wedbush Securities, in an interview with Insider. Account icon An icon in the shape of a person's head and shoulders.
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