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'Not Necessarily The Best Return': Hollywood Agencies On Post-Strike Packages Of Actors; Say 'Money Is So Tight Everywhere'
According to reports, Executives are worried about spending too much on expensive shows that might not bring in enough viewers.
In the bustling world of Hollywood, where dreams are made and stories are brought to life, a new chapter has begun after the recent strikes. After the dust settled from the strikes, everyone thought things would pick up with a bang. But it turns out, it hasn’t been as booming as expected.
After six months of waiting, it was time to get back in the game. Even though big stars were involved, those fancy packages didn’t make the big impact everyone thought they would. Let’s figure out why Hollywood’s ideas didn’t work out like they hoped.
Challenges in post-strike packages
In today’s market, where money isn’t flowing freely, network executives prefer cheaper projects that they can develop and have ownership of. “We’re scratching our heads over this,” one agent commented on the situation. Agencies are taking note of all the star-studded packages they’ve put together that just haven’t sparked interest lately. Studios like Disney and Netflix claimed that they offered actors more money and good things, but the actors refused.
These packages include talented individuals, such as Oscar and Emmy winners and nominees, both in front of and behind the camera. “We call it the whiff list,” said one manager, referring to the list of failed packages. The tally of these unsuccessful packages has now surpassed 20.
ALSO READ: SAG-AFTRA President Fran Drescher Speaks Out About The Actor's Strike At SAG Awards 2024
The tight wallets
The rise of streaming services, such as Netflix and Apple TV+ has completely changed how the entertainment industry works. Initially, their goal was to make a big impact in the market. However, as more streaming services entered the competition, their priorities began to change. Now they’re more interested in turning a profit and aren’t willing to spend excessive amounts on talent.
Executives are worried about spending too much on expensive shows that might not bring in enough viewers. “Money is so tight everywhere. These are huge investments, massive packages, and a lot of them are not necessarily the best return on investment,” said one agent.
They’ve realized that expensive shows don’t always bring in more subscribers. Instead, it’s often shows like Stranger Things and Game of Thrones become huge hits and attract more viewers. Also, according to reports, another reason for the recent rejection of big packages could be the abundance of limited series in the market.
Why did the strike happen?
The strike has finally come to an end after lasting for months. Thousands of actors, represented by the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA), went on strike alongside screenwriters. The actors wanted a new contract from the Alliance of Motion Picture and Television Producers.
They said they needed more money, especially now that more people watch shows and movies on streaming platforms. They were also concerned about new technology, like AI that can make fake versions of them without permission.
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