Top Hollywood executive Barry Diller has warned that the entertainment industry is facing imminent “absolute collapse” amid multiple union strikes and a rejection of woke culture by the American public.
During an interview with CBS Diller declared that Hollywood may never recover from the recent spate of strikes.
According to Diller, the multiple strikes have emerged during a “perfect storm” that could spell the end for Hollywood.
“You had Covid, which sent people home to watch streaming television and killed theaters,” Diller said.
“You’ve had the results of huge investments in streaming which have produced all these losses for all these companies that are now kind of retrenching.”
“So at this moment, it’s kind of a perfect storm.”
“Who cares about Hollywood?”
“Who cares about it?”
“But the truth is, this is a huge business,” he pointed out.
“Both domestically and for world exporters.”
“But these conditions will potentially produce an absolute collapse of an entire industry.”
“Everybody’s probably overpaid at the top end.”
“The one idea I had is to say, as a good faith measure, both the executives and the most-paid actors should take a 25 percent pay cut to try and narrow the difference between those who get highly paid and those that don’t.”
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