"Strikes, Streaming, and the Future of Hollywood: A New Era Begins as SAG-AFTRA Strike Ends, but Uncertainty Looms"

The end of the SAG-AFTRA strike marks the start of a new era in the entertainment industry. With the streaming wars winding down, the future of Hollywood remains uncertain. One notable change is the Great Content Contraction, which began before the strikes but has been accelerated by the studios' cost-consciousness. This means fewer shows and movies being produced, resulting in fewer job opportunities for industry professionals. The reforms won by the strikes, such as the new performance-based streaming residual bonus formula for writers, are important steps towards creating a more sustainable economic model for the streaming era. However, it's unlikely that many titles will meet the criteria to receive this bonus. Despite this, the strikes have brought attention to the flaws in the negotiation process and may lead to positive changes in future negotiations. Looking ahead, negotiations with the below-the-line crews' union IATSE will be challenging. In addition to streaming-related issues, IATSE members have concerns over working conditions that were not addressed in the recent strikes. However, if workers can leverage their power and studios are willing to compromise, there is potential for significant transformation in the entertainment industry. While the Hollywood of the future may be smaller than its peak TV era, the changes brought about by the strikes could ultimately be beneficial in creating a more sustainable and equitable industry. The power dynamics are shifting, and workers are beginning to assert their influence, leading to progress and a more positive future for Hollywood.