TV Business Faces Further Contraction As Marketplace Reopens: “The Bubble Has Burst”

Pitch Perfect: Bumper In Berlin“There will definitely be more rescinded renewals,” one industry insider said last week.

“There will be clearing the decks on a lot of stuff,” one source said. Buyers “have reevaluated how much they want to do and areas they want to go. That has changed.” and some Marvel/Star Wars shows, would be looking to keep budgets at about $5M-$10M an episode, the insider said. Overall deals will be “only for people they absolutely have to be in business with,” an industry insider said.A pullback after a lengthy strike is not a surprise — “Honestly, I don’t think studios will be buying anything for a little while,” Steinberg wrote in his Twitter message Monday morning.

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