Impact of the Hollywood Writer Strike on Studios

The recent Hollywood writer strike, the second longest in history, is having a lasting negative impact on studios. Despite studios expecting new spec scripts to become available after the strike, there has been very little new material for them to buy. Analysts suggest that writers may be hesitant to pitch their scripts due to a softening market for content. Big streamers like Netflix and major studios like Disney are signaling that the spending frenzy is over, resulting in lower bids for new content. As a result, studios have few options to choose from, indicating a potential decrease in variety and options for audiences.