Staff Reports
It was no surprise to anyone that the Writers Guild of America’s (WGA) strike would be a colossal failure. This group, known for its misguided tactics like forcing writers to fire their agents, have no idea what they are doing. They are now demanding higher pay and more benefits at a time when studios are cutting back on content and organizational costs. With the streaming economy taking control, studios can no longer rely on the old system of revenue sharing to generate significant profits. The WGA’s demands will only lead to less revenue and therefore less money to pay those demanding a raise.
Streaming media is not the lucrative business many assume it to be. Disney’s streaming services continue to lose money, and subscriber counts are already declining. Netflix has plateaued in subscriber numbers and only achieved positive free cash flow in 2020 when everyone was stuck at home with nothing to do. Amazon, allegedly spending a staggering $15 billion on content this year, is also struggling to retain subscribers, as are Apple and other streaming media companies.
ForksTalk Newswatch: Why the Writers Guild of America Strike Will Fail https://t.co/dieQTtIMbt pic.twitter.com/wwSqArjLvK
— ForksTalk (@TalkForks) June 6, 2023
The DGA managed to strike a deal that will satisfy everyone and, more importantly, keep people employed. They achieved modest pay increases, foreign residual increases for streaming content, and other minor improvements. The WGA, on the other hand, is demanding the impossible. The fact of the matter is that writers can make a living if they are successful and talented enough. Paying writers more and more won’t fix the streaming economy. It is time for the WGA to face reality and accept what the DGA has already done. Their strike is misguided, and it will ultimately lead to nothing except wasted time and lost jobs.
Source: Red State
