Writer’s strike cost $2.5 billion - TvTechnology

Writer’s strike cost $2.5 billion

Cancellation of the Golden Globes Awards alone resulted in a $60 million shortfall for the community.
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Los Angles County government officials say the recent writer’s strike cost more than $2.5 billion. The figure includes lost wages from TV shows that were canceled and films that were put on hold as well as a plethora of support services, ranging from limo drivers to florists.

Cancellation of the Golden Globes Awards alone resulted in a $60 million shortfall for the community, according to a 71-page report by Jack Kyser, the chief economist for the Los Angeles County Economic Development Corp.

Kyser said chief among the concerns is that Screen Actors Guild leaders are “talking tough,“ so there is growing concern that they will go on strike after the union’s labor contract with the studios expires on June 30.

Kyser also pointed out that DVD sales have leveled off, declining last year by 3.4 percent to $16 billion, and that the scripted TV season, both what remains of it this spring and what will come in the fall, has been discombobulated by the strike.