This is in conversation from Apple News.
I'm Sam Sanders filling in for Shamita Basu.
Today, why Hollywood is broken and how to fix it.
All right.
Have you noticed that it's not a super exciting time for TV and movies at the moment?
Nothing coming out this summer seems
like it'll come even close to matching the Barbenheimer phenomenon of last year.
Box office numbers are already way down for 2024.
And on TV,
most of the big streaming services are planning to release far fewer scripted TV series
than in years past.
Also, with the notable exception of Netflix, almost every streaming service is in the red.
It's even worse behind the scenes.
Hollywood is losing a lot of money right now and losing jobs, too.
Employment in the industry remains about 20% lower than before the pandemic.
Media companies are consolidating,
and only a few conglomerates now control the entire TV and film industry.
All this is happening a little over a year
since two historic Hollywood strikes happened around the same time.
Actors and writers refused to work until they got better deals.