I can tell you most of the studios are struggling right now because production is way down in Hollywood. How do I know that? Well, in my day job, we sell paint to the various studios (Fox (now Disney) and Universal are both big accounts) and we've seen sales slip about 40% in the studio business. Now some of this has gone to Georgia and Vancouver, CA, but not 40% of it. In talking with the job foreman, they say they've had staff cutbacks due to lack of work. So while the studios are making money, they aren't making as much money as they used to
David, 1950s was a terrible time for movies. In the United States television viewing cut movie attendance by 50% from 1950 to 1960. And Great Britain lost movie attendance by 60%.The movie industry had to adapt. In the beginning, they tried to ignore TV. The big studios didn’t sell their pictures to the networks and they did not make TV shows. Of course, that all changed. Currently the big TV networks are owned by movie Studios. if this was five years ago, I would say we were going through a similar stage, and the movie companies had to adjust to streaming. But we had two unusual events. Covid shut down the theaters for a couple of years and also cut down on movie making. Then two years ago, we had the terrible strike that also shut down the industry. The studios have to learn how to recover and maybe if they can recover. I do believe that strike was a killer.
Absolutely about the strike. The studios said "sure, we'll pay you a lot more for your services," and then they cut out over 50% of the produced shows/movies, so less people have jobs. The ones that are working are doing well, but those that aren't are having to find other ways to make ends meet.
David, I was a union guy, and there were times that the unions were very helpful. Sadly, many unions do not look at the items needed to maintain their business. Movies and broadcast TV seem to be dying. It will be a slow death, but streaming, meaning, paying directly to view programs, seems to be taking over. Their union seems to be almost oblivious to these changes,