The end of the actors' and writers' strikes in Hollywood has accelerated the dawning of a new cost-cutting era in film and TV production as the burgeoning streaming industry shifts to a new business model.
The new labor contracts are adding to a fiscal cliff looming in front of the industry, which has seen mounting losses in streaming and an evaporating cable TV bundle.
As a result, what has been an insatiable demand for new streaming content over the past three years is expected to diminish by at least a third during the next three years in Hollywood, according to a report in the Wall Street Journal.
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