Before we begin, let's discuss what SAG-AFTRA is and what they stand for. Screen Actors Guild and American Federation of Television and Radio Artists (SAG-AFTRA) is an American labor union that represents media professionals worldwide. They most notably fight for proper treatment by executives and big corporations so that the interests of their members are protected. Recently, SAG-AFTRA went on strike, joining the Writers Guild of America (WGA) in calling for better pay and job security. They have also been raising attention to the harsh treatment some workers experience in the film and media industry. In addition to raising awareness, SAG-AFTRA members caused great disruptions to Hollywood's financial state.
Because many writers, actors, and artists are joining the strike, there have been significant delays in content production. As a result, big corporations like Disney, Warner Bros, and Universal Pictures are losing millions of dollars. However, there are more significant impacts than not seeing the new season of your favorite T.V. show or a highly anticipated movie. This strike also damages the economy due to the slowdown in Hollywood. Still, billions of dollars could be lost if the strike continues and corporations don't meet the conditions SAG-AFTRA wants or reach a suitable compromise. Also, it is important to remember that most of the union members are regular workers, and if they quit their jobs, they can’t spend as freely, impacting the economy. “In addition to actors and directors, each film and television series employs roughly 300 crew members who will be out of work…Most of these workers also have families and pets that rely on them.” (Feldmen). A quote from Danna Feldmen, a respected writer for Forbes magazine, emphasizes this movement’s impact on ordinary individuals who chose to leave their jobs for better conditions.
While individual workers are negatively affected by the impacts of the SAG-AFTRA strikes, small businesses are affected as well. Businesses that work with studios or actors, in general, are having a difficult time managing expenses due to the strikes. With no actors to act and no workers for studios to operate, most studios are shutting down. “As far as revenue, I'm looking at losing about $100,000 a month… That's a lot of money for a small business,” as stated by a small business owner in an ABC interview covering the effects of the SAG-AFTRA strikes. Levell worked with studios and corporations to help make props and commodities. Her business has been struggling since 2020 and has worsened due to the after-effects of the strikes.
It’s also important to note how the stock market has been affected by this movement. Since companies like W.B. and Disney are public, we can observe how their stock price has decreased following the strikes. This drop is a reasonable outcome considering most shareholders are probably scared of the future impact of the SAG-AFTRA strikes. In terms of the future, unless companies are willing to compromise and meet the conditions the workers have proposed, the strikes will continue, and the economy will keep suffering.
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