Celebrities, Joe Biden, Congress React To Hollywood's Double Strike: 'The Industry Is Very Profitable And You Should Share In Those Profits'
Portfolio Pulse from Chris Katje
Hollywood is experiencing a double strike from the Screen Actors Guild and Writers Guild of America over streaming profits and the use of artificial intelligence in film and television. This is the first double strike since 1960. The Walt Disney Company (NYSE:DIS) CEO Bob Iger commented on the strike, stating that it adds to the challenges the industry is already facing. President Joe Biden and Congress members from California have expressed support for the strikers.
July 15, 2023 | 3:55 pm
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The ongoing strike in Hollywood could disrupt operations and potentially impact revenues for The Walt Disney Company.
The strike could disrupt the production of movies and TV shows, which could delay releases and impact Disney's revenues. Furthermore, the public support for the strike from high-profile figures could put pressure on the company.
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RELEVANCE 75