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The broader outlook, according to industry leaders, remains cautiously optimistic. Ellison remarked, “Hollywood has gone through difficult periods before—like the late ‘60s and early ‘70s—and emerged stronger. We will get through this period, too.”
Challenges: The Streaming War and Content Strategy
Experts warn that Paramount and its counterparts face an uphill battle in the streaming landscape. Traditional methods such as acquiring libraries of existing content are not enough. Netflix has set a blueprint, and Disney+ has struggled to gain traction with its own content offerings, especially during the pandemic.