The Writers’ Guild of America declared a strike early Tuesday after the executive side of the entertainment business refused to negotiate their modest demands. A lot has changed since the last writers’ strike in 2007, especially how media is consumed and compensated.
Netflix’s red envelopes were the big new thing back then, and now they’re a relic young people think coexisted with BETAMAX. Yet pay, residuals, and benefits are still stuck in that ancient time before we had to manage a dozen or so streaming logins.
All of these studios are making profits, just not enough to satisfy Wall Street’s maw. So they’re screwing writers and nickel-and-diming their subscribers by canceling shows and memory-holing their back catalogs to save a few cents on residuals, all to squeeze out more dividends and stock buybacks.
Joe “Union Guy” Biden broke a rail strike so the economy wouldn’t take a hit. If this writers’ strike goes on long enough to harm the studios’ bottom lines, I’m sure he’ll find a way to intervene.