Hollywood is facing a persistent decline due to various disruptions such as the pandemic, strikes, and competition from digital entertainment. As production slows and morale falls, scripted shows struggle against video games and social media. The industry's situation has led to a more honest portrayal of its struggles in recent shows like 'Hacks' and 'The Studio,' reflecting the absurdity of the current environment. Once successful narratives now highlight the irony of pursuing profitability over creativity as executives grapple with an industry in crisis.
In a recent profile, Michael Wolff pronounced that Hollywood's 'gradual decline' has 'arguably reached the all-at-once stage.' Production is down, jobs are scarce.
The industry's struggles stem from disruption due to the pandemic, writers' and actors' strikes, and competition from video games and social media.
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