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Hollywood industry in crisis after strikes, streaming wars

Productions are down by about 40% and entertainment industry employees say they can't find work.

Part of the boom was fuelled by Wall Street, where tech giants like Netflix saw record growth and studios, like Paramount, saw their share prices soar for adding their own streaming service offers. “The entertainment industry is critical to the economic vitality of the Los Angeles region,” Bass said announcing the plan, explaining it is a “cornerstone” of the city’s economy and supplies hundreds of thousands of jobs. “What makes these companies special, what gives them their unique ability to create value is their relationship with creative talent,” he said while visiting a picket line outside a Disney office in September, where video game voice actors are currently on strike fighting for similar protections.

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