On July 13, SAG-AFTRA, the actors union, went on strike against Hollywood studios and streamers, joining the ongoing strike by the Writers Guild of America. While many in the media reported this as unprecedented, the truth is that the industry faced a similar double strike 60 years ago. However, the current situation is causing increasing anxiety as the impacts of the dual walkout are being felt in every corner of the entertainment industry.
In studio board rooms, the reality of a star-less season is sinking in. Executives are hoarding production cash, fearing that there may soon not be enough content to keep the pipelines flowing. Even the most practiced executives are feeling the stress, as seen in Disney CEO Bob Iger’s recent public relations troubles.
The effects of the strike are also being felt downstream in the entertainment ecosystem. Publicists and influencers are running out of clients to promote and red carpets to walk. They are facing a financial crisis and, for some, their very existence is at stake. Even the restaurants where Hollywood’s various factions used to meet are preparing for a lean summer.
The Hollywood Reporter recently delved into the escalating anxieties of this moment in Hollywood. Their stories cover the various impacts of the strike:
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1. “As Stars Walk, Streamers Debate Shelving Shows”: With talent unable to do press and content pipelines at risk of running dry, executives at every major streaming platform are silently debating whether or not to hold back completed series. The article analyzes the pros and cons of this strategy.
2. “The Strike’s Side Effect: A Cash Hoard for Studios”: Hollywood is currently in earnings season, and it has become apparent that the work stoppage is adding to the bottom line of struck companies in the short-term. The article examines what CEOs might do with this unexpected windfall.
3. “Influencers Navigate the Strike Minefield”: Social media stars who focus on Hollywood are caught between strict SAG-AFTRA rules and their need to work with studios to create content. They are facing an ultimatum and are unsure of how to move forward.
4. “Unpacking Bob Iger’s Terrible, Horrible, No Good PR Week”: Many in Hollywood had hoped that the re-upped Disney CEO, known for being in tune with talent, would serve as a levelheaded mediator to end the labor impasse. However, his recent statements have disappointed those expectations.
5. “Celebrity PR Firms in Crisis”: Actors are unable to do promotional press and film festival appearances due to the strike, leading some to go on hiatus from their representatives. One PR firm has already seen an 80% decline in business and is facing potential layoffs in the coming months.
These stories highlight the extensive impact the strike is having on the entertainment industry. From streamers deciding whether to hold back completed shows to the financial struggles of publicists and influencers, the industry is facing a challenging time. Even top executives like Bob Iger are feeling the pressure and facing public relations challenges. The strike is causing anxiety and uncertainty throughout Hollywood, and its effects will continue to be felt as long as the walkout continues.
