Hollywood Writers Won But Hollywood Still Can't Go Back To Normal
Portfolio Pulse from Upwallstreet
Hollywood writers have ended their strike after reaching a deal with The Alliance of Motion Picture and Television Producers (AMPTP), which represents Netflix, Disney, Amazon, Paramount Global, and Warner Bros Discovery. The deal includes an increase in minimum pay, a new residual for streaming based on viewership, and restrictions on the use of artificial intelligence. The contract will last until May 2026. The strike reportedly cost California and other U.S. production hubs at least $5 billion.
September 27, 2023 | 5:09 pm
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NEGATIVE IMPACT
The strike and the new deal could potentially limit Disney's exploration of cost-cutting AI technologies. The company's stock had crashed to the lowest level in nine years at the end of August.
The new deal restricts the use of AI, which could limit Disney's cost-cutting efforts. This, combined with the company's recent stock crash, could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Apple will be required to reveal more official viewership data under the new deal. This could potentially increase transparency and accountability.
The new deal requires Apple to provide more detailed viewership data. This could potentially increase transparency and accountability, but it's unclear how this will impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Amazon will be required to reveal more official viewership data under the new deal. This could potentially increase transparency and accountability.
The new deal requires Amazon to provide more detailed viewership data. This could potentially increase transparency and accountability, but it's unclear how this will impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Netflix will be obliged to provide the guild with statistics such as the number of hours streamed both domestically and internationally for self-produced high budget streaming programs. This could potentially increase transparency and accountability.
The new deal requires Netflix to provide more detailed streaming statistics. This could potentially increase transparency and accountability, but it's unclear how this will impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Paramount's shares rose more than 2% in response to the end of the strike. The new deal could potentially impact the company's operations.
The end of the strike and the new deal could potentially impact Paramount's operations. However, the company's shares rose in response to the end of the strike, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Warner Bros Discovery's shares rose more than 2% in response to the end of the strike. The new deal could potentially impact the company's operations.
The end of the strike and the new deal could potentially impact Warner Bros Discovery's operations. However, the company's shares rose in response to the end of the strike, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80