Barry Diller said Sunday the entertainment industry could “collapse” if the writers’ and actors’ strikes are not resolved soon.
IAC chairman and senior executive Barry Diller said Sunday on CBS’s “Face the Nation” that the entertainment industry could “collapse” if the writers’ and actors’ strikes are not resolved soon.MARGARET BRENNAN: The gears of America’s entertainment industry ground to a near complete halt last week when the union that represents actors, SAG-AFTRA, joined writers on the picket line.
SAG-AFTRA members but work under a different contract than the actors and are not affected by this strike. But to understand who is impacted here we are joined by Barry Diller, a former movie studio head who’s currently the chairman of IAC and Expedia. Welcome back to Face the Nation.BRENNAN: You know, we were trying to gauge the economic impact of this. And according to the Milken Institute, it could cause $4 billion in economic damage.
DILLER: Well, the problem with this particular- all strikes get settled. The issue for this one is, is when. Because you have almost a perfect storm here, which is you had COVID, which sent people home to watch streaming and television and killed theaters. You- you’ve had the results of huge investments in streaming, which have produced all these losses for all these companies who are now kind of retrenching.
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