The Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers have held a meeting to find a resolution for the ongoing Hollywood strike, bringing hope for a breakthrough. The WGA and the producers’ alliance met yesterday, with another meeting scheduled for Thursday, as stated in a joint statement. According to sources familiar with the discussions, both parties are close to reaching an agreement, as reported by CNBC.
This strike has persisted for over three months, resulting in the suspension of television shows and movie productions. The writers are advocating for higher pay, arguing that their current compensation is inadequate in relation to the revenue generated from streaming platforms.
While studios have been able to save money during the strike, executives have warned that their earnings will eventually be impacted due to the lack of content. Projects such as Netflix’s Stranger Things, Disney’s Blade, and Paramount’s Evil have all come to a standstill.
Both sides are expressing their desire to reach a deal as soon as possible. However, if an agreement is not reached, the dispute could continue until the end of the year, according to CNBC.