NFLX - Should studios cut streamers out of Hollywood strike negotiations?

2023-09-01 07:31:06 ET

Warning of "an absolute collapse of an entire industry," media mogul Barry Diller continues to speak out about the devastating double strike plaguing Hollywood.

The "old majors" like Disney ( NYSE: DIS ), NBCUniversal ( NASDAQ: CMCSA ) and Paramount Global ( NASDAQ: PARA ) "should certainly get out of the room with their deepest, fiercest and almost conclusive enemy, Netflix ( NASDAQ: NFLX ), and probably Apple ( NASDAQ: AAPL ) and Amazon ( NASDAQ: AMZN )," he declared, stating the streamers should be cut out of the negotiations with the unions.

"When they have to gear up to make more programming to get back subscribers, they won’t have the revenue base to be able to produce," he added. "So that is kinda catastrophic."

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