What's happened
Despite a slight recovery in Hollywood post-strikes, the industry faces ongoing challenges. Green-lighted projects are down 33% compared to two years ago, with streaming platforms prioritizing international markets and live sports. Filmmakers express concerns over the evolving release model and the impact of streaming on visibility and support for new films.
Why it matters
What the papers say
According to Axios, the number of green-lighted programs has significantly decreased, with streaming services focusing on international markets. Hugh, in an interview, emphasized the ongoing struggles of many in the industry, stating, "I have so many friends who still have not gone back to work." Meanwhile, Paul Schrader criticized the current release model, saying that unless you're a 'privileged' filmmaker, your work risks disappearing into the 'Bermuda Triangle of streaming.' He noted that films released directly to streaming often receive no promotional support, which can hinder their success. This sentiment is echoed in Business Insider's analysis of the licensing strategies of networks, which can either bolster or undermine their long-term health depending on viewer awareness of the original network.
How we got here
The film and television industry is still recovering from the writers and actors strikes of 2023. The landscape has shifted significantly, with streaming services adapting their strategies to capture international audiences and prioritize live sports content.
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