The death of Hollywood’s middle class

Much as with the rest of U.S. industry, Hollywood’s middle class has seen the stability that reigned from the 1940s to the 1980s slowly chipped away in pieces over the last several decades. In 1993, the so-called fin-syn laws, which prevented companies from owning a production studio and a network, were abolished, ushering in an era of consolidation that reduced competition. Around the same time, cable television exploded, which diverted eyeballs and advertisers from the Big Four networks, which had been the most reliable providers of job security and good pay. In addition, most original programming on cable networks was produced on the cheap. In 2007, a Writers Guild strike, just as the global economic collapse began, led to a contraction from which workers have not fully recovered. Networks slashed their budgets for lucrative overall development deals for writers who were in any way associated with hit shows, and salaries were slow to return to pre-downturn levels. – Nicole Laporte, Fast Company https://ift.tt/2qbh6OR
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