Hollywood is paying a steep price for never really figuring out the streaming model ...Middle East

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Hollywood is paying a steep price for never really figuring out the streaming model
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People carry signs as SAG-AFTRA members walk the picket line in solidarity with striking WGA workers outside Netflix offices in Los Angeles, July 11, 2023. Mario Tama | Getty Images News | Getty Images Picket signs have lined the gates of Hollywood’s studios for nearly five months, as the industry’s writers and actors rally for AI protections, better wages and a cut of streaming profits. The problem is streaming isn’t yet profitable for many studios. Sparked by the creation of Netflix’s direct-to-consumer platform in 2007, streaming has upended the economics of the media industry. Yet, it’s still unclear whether it’s a sustainable business model for the future. “Without sounding hyp

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