Hollywood’s writers and actors strikes ‘inching towards compromise,’ but work stoppage could last into 2024

Hollywood studios will once again meet with striking writers this week as negotiations drag on, surpassing the 100-day mark as KPMG’s media leader says the participants are “inching towards compromise,” but so slowly the impasse could last into next year.

Alexandra Canal for Yahoo Finance:

[T]the economic impact of the “double whammy” work stoppage, experts said, is only just beginning.
“We met this week and continued to exchange proposals,” the Writers Guild of America (WGA) wrote to members on Friday, adding, “The Guild will communicate when we think there is something of significance to report.”
SAG-AFTRA — the union that represents approximately 160,000 actors, announcers, recording artists, and other media professionals around the world — also remains firmly on the picket lines after joining striking writers in mid-July.
The bottom line: “We’re inching towards compromise,” Scott Purdy, KPMG’s US national media leader, told Yahoo Finance.
Purdy predicted the strikes could likely last “two to three times” the prior 2007-2008 strike, which lasted for 100 days. That means a work stoppage that can run well into 2024.
Profitability, of course, remains top of mind for the Alliance of Motion Picture and Television Producers (AMPTP), which bargains on behalf of studios including Warner Bros., Disney, Netflix, Amazon, Apple, and NBCUniversal — hence the standstill in negotiations.

MacDailyNews Take: As we wrote last month, “You know those myriad series you passed by the first time around? Now’s the time.”
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
The post Hollywood’s writers and actors strikes ‘inching towards compromise,’ but work stoppage could last into 2024 appeared first on MacDailyNews.