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Amazon, Netflix and Disney Buoyed by End of Hollywood Writers Strike

Russell Shor Written by Russell Shor
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Hollywood writers have agreed to end their strike action. The strike ended in the early hours of Wednesday morning.

A tentative deal was announced between the WGA and the Alliance of Motion Picture and Television Producers (AMPTP) on Sunday. Companies represented by the AMPTP include Netflix (NFLX.us), Disney (DIS.us), Amazon.com (AMZN.us), Paramount Global (PARA.us) and Warner Bros. Discovery (WBD.us).

The deal includes increases to minimum pay, a new residual for streaming based on viewership, and regulates the use of artificial intelligence. Streaming companies will additionally furnish the union with statistics regarding the cumulative hours of viewing for "in-house, high-budget streaming productions," such as a Netflix original series.

Work can now recommence on several productions that were halted due to the strike. Writers will return to work during the ratification process with WGA members retaining the right to make a final decision on the deal.

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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