Barry Diller, the chairman of IAC and Expedia, as well as a former top executive at Fox, Paramount, and ABC Entertainment, is urging the Hollywood studios to put an end to the dual writers and actors strikes. According to Diller, if the strikes continue, it could have catastrophic consequences for the industry, particularly for legacy media, while strengthening streaming giant Netflix.
Diller advised the studios to exclude Netflix and other streaming services from the negotiations with the unions. He emphasized that instead of treating Netflix as an enemy, the studios, actors, and writers should recognize their shared interests and collaborate, considering their long history of working together.
Diller’s remarks mirror his earlier comments on CBS’ “Face the Nation,” where he warned that the strikes could lead to the complete collapse of the entire industry. The Writers Guild of America has already been on strike for over 100 days, and the actors’ union joined them in July, resulting in the halt of TV and movie production.
Efforts to resolve the situation through discussions between the studios and writers have been unsuccessful so far. Diller expressed his skepticism that the strike would come to an end by September, suggesting that the outlook is bleak.
Representatives for SAG, WGA, AMPTP, and Netflix have yet to respond to requests for comment.
In recent discussions, top media executives, including Disney CEO Bob Iger, NBCUniversal film head Donna Langley, Netflix co-CEO Ted Sarandos, and Warner Bros. Discovery CEO David Zaslav, have met with the writers union in an attempt to find a resolution.
If the strikes continue throughout the year, Diller believes that major companies like Disney, NBCUniversal, and Paramount Global will suffer from a lack of fresh content on their streaming platforms. This could result in subscriber cancellations and revenue losses when they try to regain viewership in the future.
Diller refers to Netflix as an “evil genius” that has outpaced legacy media in the streaming arena, leaving them struggling to generate profits. He suggests that companies should refocus on their broadcast and pay-TV networks, which still remain profitable despite the trend of cord-cutting.
Diller concludes by stating that legacy media has the opportunity to rebuild their networks using their existing shows and creativity. He urges them to take advantage of this opportunity rather than solely focusing on streaming platforms.
(Note: Disclosure: Comcast, the parent company of CNBC, owns NBCUniversal, one of the members of the Alliance of Motion Picture and Television Producers.)
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
