Strikes Could Cause Hollywood To Fall To Pieces

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Strikes Could Cause Hollywood To Fall To Pieces:

IAC as well as Expedia Group Chair Barry Diller states that the strikes by Hollywood writers and actors could lead to the “absolute collapse” of the whole business if the problems aren’t fixed soon.

In an interview on CBS’s “Face the Nation” alongside Margaret Brennan on Sunday, the former CEO of Paramount Pictures said, “These conditions could cause a total collapse of a whole industry.”

The union for many actors in Hollywood, SAG-AFTRA, went on strike with the Writers Guild of America upon Friday after contract talks with movie companies broke down. It’s been a long time since both groups went on strike at the same time.

IAC said that if the writers’ and screen actors’ groups’ strikes in Hollywood don’t end soon, it will have “devastating effects if it isn’t settled soon.” Sunday’s episode of “Face the Nation” on CBS featured a chat with Expedia CEO Barry Diller.

Diller thinks that worries that AI will replace writers as well as actors are “overhyped to death,” but he did say that another big reason for these strikes has to do with the developing inability of working-class creatives and staff members to Hollywood to make ends meet while top executives as well as actors make millions of dollars each year.

“So, if this isn’t settled soon, it will have terrible effects,” he said, adding that he isn’t very hopeful because he views “no trust” between each of the sides.

The artists want a lot of the same things that the writers want. They say that they want better pay and higher rates for streaming programs, which don’t pay as well as programs that are sent out in other ways.

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The union wishes more money for pensions and health funds and says that inflation has made wages go down. Diller said that if the studio leaders and groups can’t come to a deal for a few more months, there are going to be fewer shows for people to watch.

This will cause people to quit their streaming contracts, which will bring the entertainment business less money. That means there won’t be enough money to speed up projects through the time the strikes are over.

Diller, however, said that a quick settlement is unlikely because “there’s not enough trust between these parties.”

He pointed to “existential issues,” such as the rise of artificial intelligence, where the groups have said they want feedback on how it will be used, and the difference in pay between the highest and lowest earners in the industry.

Diller said that, as a “good-faith measure” in an effort to “narrow the gap between those who get paid a lot and those who don’t,” top studio leaders and top-paid stars would take a 25% pay cut.

In the interview, Diller talked about AI, which he dubbed “overhyped to death” as far as of how it will change the jobs of writers and artists.

Diller said, “Writers will be helped, but not replaced.” “I don’t think most of these real performing arts are in any danger of being taken over by machines.”

Diller is more worried about how AI will affect the publishing business. He hinted at a possible case with an association of “leading publishers,” but he wouldn’t say when a complaint might be filed.

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Diller Told The Top AI Companies That They Have To Find A Way To Help Publishers:

Diller said that Google and Microsoft, two of the biggest names in AI, “want to discover an answer for publishers.” But he added, “The trouble is that they also state that the equitable use theory of copyright law lets them take all this stuff. We in printing don’t think that’s right.”

“You are having the actors’ union stating, “How dare these ten individuals who run these companies make all this money and won’t pay us?” Even though, if you analyze it from the opposing side, the top ten stars are compensated more compared to the top ten leaders, I’m not saying either side is right. Actually, everyone at the top is probably paid too much,” he said.

Diller said, “One idea I had was to say that as a show of good faith, both the executives as well as the highest-paid actors should receive a twenty five percent pay cut.” This would help close the gap between those who get paid a lot and those who don’t.

After This Strike, Every AI Company Must Find A Fair Way To Do Business:

Microsoft didn’t want to say anything, and Google didn’t say anything right away when asked. Diller said that AI companies have to come up with an equitable method to do business before they can use publishers’ copy-protected work.

He said that the situation is like when companies in the early days of the internet let people read content for free and made money from ads.