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Hollywood Braces for Year of Mergers, Streaming Shakeups, and Labor Unrest

Paramount Global's potential sale and the struggle of streaming services could reshape the industry, while the aftermath of 2023's strikes and challenges at Disney loom large.

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Overview

  • Paramount Global is up for sale, with Warner Bros. Discovery and Skydance's David Ellison showing interest. This could lead to a year of merger mania in Hollywood.
  • Fewer streaming services are expected to survive due to the need for a large scale to become sustainable. Many are expected to merge or disappear, leaving only a few standing.
  • 2023's strikes have caused significant damage to the movie and TV business. Renewal of contracts for the Writers Guild of America and SAG-AFTRA could lead to another summer of labor unrest.
  • The movie business is still recovering from the pandemic, with box office sales still down from pre-pandemic levels. Delays in production due to the strikes could further impact the industry.
  • Disney is facing several challenges, including a potential proxy fight from activist investor Nelson Peltz, quality control issues at Marvel Studios, and a thin slate due to the strike fallout.