Movie theaters showing concert films could become the norm as talks between the Hollywood union and corporate industry leaders ca𒀰me to a halt, prolonging the strike and its disruption to scripted content.

Negotiations between the Screen Actꦺors Guild and the American Federation of Television and Radio Artists (SAG-AFTRA) and the Alliance of Motion Picture and Television Producers (AMPTP) came to a halt Wednesday night. 

The AMPTP, which functions as the entertainment industry's official collective bargaining organization, representing companies like NBCUniversal (CMCSA), Netflix (NFLX), Warner Bros. Discovery (WBD), and Paramount (PARA), reported that negotiations had been suspended on Wednesday after a meeting with the union.&🦋nbsp;

“The gap between the AMPTP and SAG-AFTRA is too great,” AMPTP said in its statement, reporting that SAG-AFTRA's current offer “would cost more than $800 million per year—which would create an untenable economic burden."

SAG-AFTRA said that the AMPTP was using “bully tactics” and “intentionally m𝄹isrepresented to th♛e press the cost of the above proposal—overstating it by 60%.” 

AMPTP said that the union was unwilling to budge, while SAG-AFTRA reported that industry leaders last week “presented an offer that was, shockingly, worth less than they proposed before the strike began.”

Less than a week before talks between the union and corporate industry leaders devolved, the Writers Guild of America, another creative union, ratified an agreement with AMPTP to 澳洲幸运5官方开奖结果体彩网:end the writers' strike.

For consumers, the continuation of the strike means that some entertainment content will be furꦺther disrupted. “The direct impact is that productions will continue to be halted until it ends, leading to a growing release slate hole in the summer of 2024,” Alicia Reese, vice president of equity re♈search at Wedbush Securities told Investopedia. 

“Studios can adjust their release slates to fill these gaps to an extent,” Reese said, saying that the research firm expects “theaters to fill any gaps with alternative content such as live concerts, concert movies, live comedy shows, live sports, and eSports.” During the strike, theaters have found a creative workaround to continue providing new content within🧸 the limitations of the strike by playing concert movies.

Some of these concert movies have been successful, with AMC reporting a jump in box-office receipts in the third quarter, credited in part to the "Taylor Swift: The Eras Tour" film that opens Friday in North America. AMC is also set to release 澳洲幸运5官方开奖结果体彩网:Beyonce's concert movie, “Renaissance: A Film by Beyonce," on Dec. 1.