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Local on-location film production declined in the second quarter of 2023, mustering 6.566 Shoot Days (SD) to finish down -28.8% for the quarter, according to FilmLA. The drop was accelerated by the ongoing WGA labor action.

Moody’s Investors Service is expecting the Writers Guild of America and SAG-AFTRA strike to last a relatively long time and result in incremental costs of between $450 million and $600 million to media companies. 

Maria Rua Aguete, leading global entertainment analyst and Omdia Senior Director, deep explains the diverse key factors that created the current uncertain scenario.

The US actors’ union Screen Actors Guild (SAG-AFTRA) decision to join the Writers Guild of America (WGA) on strike paralyzed the American audiovisual industry, and could have a significant impact on Hollywood production.

SAG-AFTRA, a union representing about 160.000 Hollywood actors, formally announced a strike after talks with major studios and streaming services failed.