“You had Covid, which sent people home to watch streaming television and killed theaters,” Diller said. “You’ve had the results of huge investments in streaming which have produced all these losses for all these companies that are now kind of retrenching. So at this moment, it’s kind of a perfect storm.”
Diller called for a settlement deadline of September 1, and said there could be catastrophic ramifications if the strikes extend into the fall.
“Who cares about Hollywood?” Diller said — referencing what he believes to be overriding public sentiment on the issue. “Who cares about it? But the truth is, this is a huge business! Both domestically and for world exporters. … But these conditions will potentially produce an absolute collapse of an entire industry.”
The IAC chief acknowledged the “existential issues” at play, and said there is “no trust between the parties” — which could prolong the strikes.
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