For the past week, media outlets have conveyed a whiff of business as usual. On Thursday, HBO hosted one Premiere on the red carpet for a documentary, while the Fox network announced a survivalist reality show called Stars on Mars, hosted by William Shatner.
“3 … 2 … 1 … WITHDRAW!” read the network’s promotional materials.
With the exception of late-night shows, which went dark immediately, Mr. Bakish assured Wall Street, “consumers really aren’t going to notice for a while.” Networks and streaming services have a large amount of banked content. Reality shows, news programs and some script series by foreign companies are not affected by the strike. Most of the films slated for release this year are well past the writing stage.
The shares of all companies involved in the failed contract negotiations rose on Friday; Investors tend to like it when costs come down, which happens when production slows, like during a strike. If the strike drags on into July, analysts warned studios could end expensive deals with writers under “force majeure” contract clauses.
“The sad news for writers is that by declaring a strike, they may be helping the streaming giants and their parent companies,” Luke Landis, media and internet analyst at SBV MoffettNathanson, wrote in a report on Wednesday.
However, the writers managed to make life difficult for the studios in the first week. Apple TV+ was forced to delay the premiere of “Still,” about Michael J. Fox and his battle with Parkinson’s disease, because Mr. Fox refused to cross a picket line. In Los Angeles, writers went on strike on the set of Apple TV+ for “Loot,” starring Maya Rudolph, causing to stop taping. In New York, similar actions disrupted production on shows like “Billions,” the Showtime drama. Other affected shows included “stranger things“on Netflix”Chop‘ on HBO Max and Sunday’s broadcast of the MTV Movie & TV Awards, which went without host forward Drew Barrymore retiredciting the strike.
