Strikes could lead to ‘absolute collapse’ in Hollywood, Diller says

(Source: The Hill)

IAC and Expedia Group Chair Barry Diller says the dual Hollywood strikes of writers and actors could lead to an “absolute collapse” of the entire industry, if the issues are not resolved soon. 

“These conditions will potentially produce an absolute collapse of an entire industry,” the former chief executive of Paramount Pictures said in a Sunday interview on CBS’s “Face the Nation” with Margaret Brennan. 

SAG-AFTRA, the union representing many actors in Hollywood, joined the Writers Guild of America on strike Friday after contract negotiations with film studios failed to be resolved. It’s the first time the two labor groups have both been been on strike in decades. 

Diller warned that timing is a key issue in settling this strike. If it doesn’t get resolved until Christmas, for example, there will not be as many programs produced next year, and subscriptions will get pulled. That would result in less money for the movie and television studios to invest in further offerings just when the strike is resolved.