#ActorsAndWritersStrike #RevenueStreams #TechnologicalChanges #jobs #workers
Television actors and writers are on strike over residual pay and their futures with artificial intelligence.
This is not a simple dispute, with big-money studios taking more profits out of the hides of those who create their products.
The whole media revenue stream is changing, with streaming subscriptions becoming a bigger part of the revenue stream, vs. advertising.
In general, subscription revenue is lower than advertising revenue.
Print newspapers went through this a few years ago. Advertising revenue fell, subscriptions dropped etc. There was a big bloodletting of jobs in that industry at the time.
Now, as more people are cutting the cord to cable, and streaming their entertainment online, revenue for cable providers is dropping. Fewer people are watching “regular” TV, and that number keeps dropping with time.
With such unsustainable revenue declines, the studios and networks have to do something.
It’s understandable, with the comings and goings of shows, that actors and writers feel their pay is dropping. Of course, it’s not really dropping for the big-time stars. It’s just for the soldier actors who provide smaller parts, background personnel (extras) etc.
These folks are NOT raking in the big bucks, even when they have plenty of work.
They are working people, just like carpenters, plumbers and other unionized professions – if those professions are fortunate enough to still be unionized.
As for artificial intelligence replacing some of these folks, studios should be aware that there is NO substitute for raw, human creativity. Certainly, human brains will be at the wheel when AI “creates,” but AI would simply copy past likenesses, for which those actors probably will not get residual pay. Or, if they do, it won’t be nearly as much as they would make for live appearances.
Technology can be a godsend for consumers. Getting something useful, or entertaining, for less money is a goal for every consumer, no matter what one buys.
But, we all have to remember that the less we may pay for something, the more people are going to lose jobs, careers and livelihoods.
Just as elections have consequences, technological revolutions have consequences. The difference is we can change electoral results at the next election. We can’t stop technological revolutions. That’s why no one can go home at night from work and believe he or she can never be replaced.
When the replacement comes, it comes as a shock to those affected. It’s important for everyone to have multiple revenue streams in their households.
Some machines can do things better than humans. Usually, the human touch adds quality to any product or service.
If companies care about quality – most say they do – they need to reckon with new revenue streams without compromising that quality.
If you work for a company facing revenue challenges, don’t just complain about how much executives are making. (It can easily be argued that executives make too much in most companies).
You have to figure out how your future will be impacted, and act accordingly. All the complaining in the world about executive pay isn’t going to change things. Some companies might be wise to curtail some executive pay to keep some of their best workers, if that’s what it takes.
As the world changes, we all have to change with it, or be left behind.
Peter