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Transcription
This is a crucial moment for artists, media, and entertainment. The industry is facing strikes due to the impact of technology, specifically streaming. In the past, people would earn a percentage of revenue from movies or TV shows, but with streaming, most writers and actors are paid a flat fee regardless of performance. As streaming gains popularity, these flat fees, called residuals, have decreased, leading actors and writers to demand change. As an avid observer of the industry and hopes to one day be a part of it, this is a do or die moment for all artists, for media, for entertainment as a whole. These stripes aren't just a product of retaliation against big bad money fiend corporations, but a necessity to keep people afloat and fight for not only this generation's work, but for all generations ahead. Although this news is happening now, the news isn't surprising in the least, and any industry worker will say the same. These strikes are a product of technology and all advancements that fall under it. Specifically for the movie and television landscape, the digital age of streaming has caused a massive industry-wide domino effect, which in simple terms means more streaming releases and less theatrical runs equals less compensation for all involved. Let's elaborate. Historically, residuals were a fairly straightforward calculation. All eligible members of the cast and crew of a movie or TV show earned a percentage of revenue generated by the project, so higher box office earnings for a movie meant everyone earned more, and higher viewership for a TV show meant everyone earned more. With streaming, most writers and actors are paid a flat fee, regardless of a project's performance. And as streaming has gained more and more popularity, those flat fees, specifically known as residuals, have seen significant drops, causing actors and writers to take the stand and demand for change.
