Hollywood Faces Long-Term Employment Decline Amid Strikes

Despite the resolution of recent strikes, the entertainment industry continues to grapple with a 26% employment contraction since 2022 and potential threats from technological disruption.

Los Angeles-based entertainment industry saw a 17% decrease in employment during the writers' and actors' strikes, with 24,799 workers losing their jobs.
The strikes, which ended in September and November, led to a significant halt in development and production, causing a loss of more than $1.4 billion in wages for L.A. based entertainment workers.
Despite the end of the strikes, the industry is still facing challenges due to oversupply, a weaker investment environment, technological disruption, and foreign competition.
The industry's employment level has shrunk by 26% since August 2022, indicating a long-term decline in Hollywood employment.
The use of artificial intelligence in filmmaking is identified as a potential threat to employment in the industry.