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The decline of traditional cable TV has further compounded these issues. Many studios shifted away from cable, betting heavily on streaming. However, as streaming failed to generate sustained revenue, the entire industry finds itself in crisis. Advertising revenue has plummeted as audiences cut cords and subscriptions stagnate, further destabilizing Hollywood’s financial foundation.
Industry Veterans and the Human Toll
The human toll of this collapse cannot be overstated. Industry insiders—writers, showrunners, crew members—are now facing unemployment on a scale never before seen. Many have had longstanding deals that are now void. Some, including marginalized groups like queer women of color, express particular frustration, feeling overlooked or dismissed in the shifting landscape.