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Former Hollywood exec warns whole industry could collapse if a deal to end strike isn't met by September

Former Hollywood exec warns whole industry could collapse if a deal to end strike isn't met by September

He's warned that unless the disputes are solved soon there could be an 'absolute collapse' of the industry

A former Hollywood executive has warned that the industry could face ‘absolute collapse’ unless the ongoing strikes are settled by September 1.

The SAG-AFTRA (Screen Actors Guild – American Federation of Television and Radio Artists) union joined the ongoing WGA (Writers’ Guild of America) strike following weeks of negotiations around pay, conditions and the use of AI in future productions.

Announcing the strike in a press conference on July 13, SAG National Executive Director and Chief Negotiator, Duncan Crabtree-Ireland, said: “Because the AMPTP [Alliance of Motion Picture and Television Producers] remains unwilling to offer a fair deal on key issues essential to protecting the livelihoods of working actors and performers, SAG-AFTRA’s national board unanimously voted to issue a strike order against studios and streamers."

Former Paramount and 20th Century Fox CEO Barry Diller issued a warning for the industry.

​​Fran Drescher, president of the actors’ guild, said: “The companies have refused to meaningfully engage on some topics and on others completely stonewalled us. Until they do negotiate in good faith, we cannot begin to reach a deal."

In its own statement, the AMPTP commented: “This is the Union’s choice, not ours. In doing so, it has dismissed our offer of historic pay and residual increases, substantially higher caps on pension and health contributions, audition protections, shortened series option periods, a groundbreaking AI proposal that protects actors’ digital likenesses, and more."

Meanwhile, the WGA has been on strike since early May.

Now, former Paramount and 20th Century Fox CEO, Barry Diller, has shared a stark warning on what could happen if the disputes are not resolved in the near future.

Diller has said there could be an ‘absolute collapse of an entire industry’ unless things are resolved within the coming weeks.

Speaking on CBS’s Face the Nation, Diller said: "What will happen is, if in fact, it doesn’t get settled until Christmas or so, then next year, there’s not going to be many programs for anybody to watch. So, you’re gonna see subscriptions get pulled, which is going to reduce the revenue of all these movie companies, television companies, the result of which is that there will be no programs. And at just the time, strike is settled that you want to get back up, there won’t be enough money."

Diller suggested that an agreement must be reached by September 1 to avoid the possibility of an ‘absolute collapse’.

He continued: "The truth is, this is a huge business both domestically and for world export.

"It sounds like I’m crying to the skies. But these conditions will potentially produce an absolute collapse of an entire industry."

Featured Image Credit: Michael Loccisano/Getty Images for Semafor / David McNew/Getty Images

Topics: Entertainment, Film and TV, US News, SAG-AFTRA Writers Strike