Former Paramount CEO warns Hollywood strikes could lead to "an absolute collapse" of the entertainment industry
· Jul 18, 2023 ·

Oh my… you guys, did you hear the news?

If the dopes out in Hollywood don't resolve the dual strikes of the writers and the actors it could lead to an all-out collapse of the entertainment industry as a whole.

Oh no…

Failing to resolve the dual strikes of the writers' and screen actors guilds in Hollywood will lead to "devastating effects if it is not settled soon," IAC and Expedia Chairman Barry Diller said in an interview on CBS' "Face the Nation" on Sunday.

Diller, a former Paramount Pictures CEO, predicted a domino effect should the dual strikes not resolve quickly.

"These conditions will potentially produce an absolute collapse of an entire industry," he said.

If the studio executives and guilds can't reach an agreement for several more months, Diller predicted, there will be fewer programs for consumers to watch, which will lead to canceled streaming subscriptions and reduced revenue for the entertainment industry. That means that by the time the strikes are settled, there won't be enough money to ramp programs back up.

Settling soon seems unlikely, however, Diller said, since "there's no trust between the parties."

So this could be the end for Hollywood, which is, well, great news.

This is the first time since 1960 that the Screen Actors Guild has gone on strike alongside the writers — a historic moment for the entertainment industry to be flushed down the drain for good.

The move essentially brings all TV shows and film, including all shows and movies on streaming services, to a complete halt. Only shows that do not require actors or writers, such as documentaries and reality TV, will be able to move forward.

And to that I say, good, let it burn, we won't miss ya!

I'm perfectly content watching documentaries for the rest of time.

Diller said to ease that disparity, top studio executives and top-paid actors could take a 25% pay cut as a "good-faith measure" to try to "narrow the difference between those that get highly paid and those that don't."

He also suggested there should be a Sept. 1 "settlement deadline."

Yeah, good luck with that one!

I sincerely hope that this resolve never presents itself and we get to see Hollywood run around like a chicken with its head cut off for the next year or so.

That in itself would be enough entertainment for a decade.

Here's that full interview with Mr. Diller:




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