The last WGA strike, which started in 2007 and lasted for 100 days, cost the city of Los Angeles an estimated $1.5 billion, according to NPR. Forbes predicts the cost of the two concurrent strikes …
Chris Thornberg, an economist and founding partner withHe attributes the continuing impasse to the wealth of viewing options now available to customers through Netflix, Hulu, Disney Plus and a host of other streaming services.
One of the key sticking points in the labor dispute is the residuals from streaming media. The WGA, which represents 11,500 screenwriters, claims AMPTP’s share of the residuals has significantly reduced writers’ average incomes compared to a decade ago. The last WGA strike, which started in 2007 and lasted for 100 days, cost the city of Los Angeles an estimated $1.5 billion, according to NPR.Disney CEO Bob Iger addressed the ongoing writers and actors walkouts during the company’s quarterly earnings call on Wednesday.
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