Both sides have a lot more to lose than they realize here. It's never been easier to produce and distribute content, production companies aren't as necessary to make good entertainment. At the same time, the industry is facing more competition than ever, foreign film quality is rising and easier to see, traditional venues of theaters and cable TV are struggling to stay relevant, streaming opened up back catalogs.
Streaming isn't a magic pile of money that will get all the actors and writers paid. Look at the music industry, Spotify pays pennies to all but the most popular artists, and with film/TV that money gets divided further.
Spotify pays pennies to all but the most popular artists
That's what the strike is about, getting paid a fair wage from streaming. The streamers can afford it, leastways they could when there were essentially two large streamers. The biggest driver behind this whole thing is Disney, which has always been a cuntish entity, and the fact that with their acquisitions from Murdoch, another cuntish entity, have decided they can push everyone around and digitally recreate their voices and likenesses in perpetuity and pay them fuck all for the privilege.
Film production is continuing in the UK as it is cleared through Equity the UK actors union. Could be that the top tier of US actors will still be able to work.
That's the thing though even when it was Netflix and Hulu, there wasn't big money in streaming if you break it down to the actor and writer level. Now that it's fragmented, piracy is picking back up. Broadcast TV vastly overpaid for content compared to streaming.