2023-06-29 06:58:00 ET
U.S. film production houses fear a looming shutdown as actors are preparing to join writers in a double strike this weekend.
Along with writers who have been on strike for almost nine weeks now, actors are demanding higher pay to counter inflation and secure their future.
While the writers' strike has already halted number of movies in production, an actors' strike at this time could bring the whole industry to a standstill.
The Screen Actors Guild (SAG-AFTRA) is currently engaged in last-minute talks with companies including Netflix ( NFLX ) and Disney ( DIS ) to resolve the writers' strike. The deadline is at midnight Friday.
More than 1,000 actors have signed a letter to the SAG-AFTRA demanding the resolution of the writers' strike, up from 300 signatures in less than a day.
A walkout by the Writers Guild of America has already shut down the final season of Netflix's ( NFLX ) Stranger Things, an HBO ( WBD ) prequel of Game of Thrones, and paused production on Disney's ( DIS ) Thunderbolts and Blade.
Other studios involved include Amazon ( AMZN ), Apple ( AAPL ), NBCUniversal ( CMCSA ), Paramount ( PARA ) and Sony ( SONY ).
Previously, a 100-day writers' strike in 2007-08 resulted in the loss of over 37,000 jobs in California and cost the state $2.1B in losses, according to Milken Institute.
More on the writers' strike:
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Hollywood actors authorize potential strike, following in footsteps of writers
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Hollywood writers strike for first time since 2007, with streaming in focus
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Netflix Didn't Start The Fire, But It May Have Fanned The Flames
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Potential double strike adds another twist to the Hollywood drama