Leno and Letterman might be running out of jokes soon as Hollywood's Writers have begun striking.
"A strike will happen at everyone's peril," Jeff Zucker, the chief of NBC Universal said last week.
If the strike carries on long, we will be seeing a lot of reruns and reality programming coming our way and networks run the risk of loosing audiences and revenue for the season.
Implications - The Hollywood writers want to be better compensated for their work, especially when it "appears on new media platforms like the Web." The guild is what represents the 12,000 writers and they are asking for a residual income. The argument is that the "online arena is still too new to establish any kind of payment formula."
What's Driving This Trend
- Compensation Disputes
- Opportunity for disruptive innovation in developing new payment formulas for online content on new media platforms.
- Rise of Reruns
- Opportunity for disruptive innovation in creating engaging and original content to replace reruns during strikes.
- Reality TV Dominance
- Opportunity for disruptive innovation in developing new reality TV formats and concepts to fill programming gaps during strikes.
Who This Affects Most
- Entertainment Industry
- Opportunity for disruptive innovation in finding alternative revenue streams and compensation models for writers in the entertainment industry during strikes.
- Streaming Platforms
- Opportunity for disruptive innovation in negotiating and implementing fair payment formulas for online content on streaming platforms during strikes.
- Production Companies
- Opportunity for disruptive innovation in creating original and engaging content to replace reruns during strikes and maintain audience interest.
