Everyone is feeling like the entertainment industry has been stalling out as the WGA and the Alliance of Motion Picture and Television Producers attempt to hammer out a new film and TV contract before May 1, when the current one expires.is all but certain, any new business is being tabled until the networks and streamers have a better idea of what is going to happen in the coming weeks. That has meant way fewer pitches, since the chance of a sale is slim.
The pitches that are most appealing — at least for now — are based on IP that practically scream overnight success. Production also has slowed down in anticipation of a possible work stoppage. The threat of the strike has prompted some projects to shift their start dates to the fall, which has had a trickle-down effect on the rest of the industry.
“A potential strike forces everyone to go on pause at the same time,” said the insider of the major platforms. “But they all needed to reframe and pivot as they have so much that is not working.”
“No one is buying. This is the worst marketplace that I have ever experienced,” a veteran studio executive lamented.