TV networks, particularly broadcast networks, consistently schedule new prime-time shows to begin in the fall,” the Moody’s analysis said. “Television will bear the brunt of a long strike as the implications of the writers’ strike will play out more noticeably for TV networks, stations, cable channels, and streamers. The strike comes at the beginning of the spring writing season for fall shows. The WGA is striking against streamers and movie studios over pay, employment levels and the changing way in which shows and movies are distributed. But in terms of the volume of content produced, television (networks and streamers) has more exposure,” said Moody’s. “Movie theaters have low credit ratings and less financial flexibility as compared to most studio and TV network owners, which makes them more vulnerable to a long strike. They could even get a cash boost, as they did during the pandemic when production was halted, according to Moody’s.īut movie theaters have already been reeling from pandemic closures and the rising popularity of of streaming. The streaming services themselves would be affected least, since their libraries of content could carry them through a prolonged strike.
“Theaters rely on these volumes for food and beverage sales as well, so exhibitors could feel the effects of a protracted strike more significantly.”īroadcast and TV networks would be hurt too, as viewers would be left without their favorite shows move to streaming. “New big-budget tent-pole releases tend to fill theaters,” said Moody’s in its new analysis. The strike by film and TV writers entered its third day Thursday, with no negotiations currently scheduled with the Alliance of Motion Pictures and Television Producers, which represents management for big studios such as Disney, NBC Universal and CNN’s parent company, Warner Bros. Already strained movie theater companies could be hurt most from the Writers Guild of America strike, according to an analysis released Thursday.
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