For years, Hollywood has been a dominant force in entertainment. But behind the glitz, signs of its impending collapse have been growing.
Recent insider accounts, including that of former actress and filmmaker Justine Bateman, reveal a disheartening picture. The industry is not only facing economic strains and labor issues but also undergoing an existential crisis that could signal the end of the Hollywood system as we know it.
Photo: Ken Papaleo/Courtesy Los Angeles Public LibraryBateman, an actress and writer-producer, recently highlighted that even actors with a wealth of experience and a dense portfolio of roles are struggling to find work. With fewer productions being greenlighted, and streaming platforms turning to a different economic model, jobs are simply not as abundant as they once were.
The situation has reached a point where even name actors now compete for roles that would have once been considered below their level. This phenomenon is reshaping the talent pool, effectively limiting upward mobility and creating a bottleneck that stymies career growth.
Hollywood’s financial strain is not limited to the actors themselves. It’s now affecting the talent agencies that represent them. The well-established agency Kazarian/Measures/Ruskin & Associates recently had to suspend its franchise with SAG-AFTRA over issues with paying its clients. This example is just one in a larger trend that has been intensifying as movie revenue streams dwindle.
For actors, losing agency support can be devastating, effectively stalling their careers. When reputable agencies are having trouble compensating talent, it’s a bad sign for the overall health of the industry.
And that doesn’t just mean the film industry. The decline has also infected television.
Once the lifeblood of network TV, pilot season has dwindled dramatically. According to industry insiders, the major networks have drastically cut back on the number of pilots they produce. While they once averaged around 100 combined pilots per season, the count has now fallen to roughly eight.
Why? Production costs, especially those associated with plague lockdowns, are one reason for the cutbacks. But the shift to a year-round development model, combined with the rise of streaming services, has also changed the calculus. This decline in pilot production reduces opportunities for new talent and creative ventures, prompting a pivot away from the traditional Hollywood model.
Nor should the entertainment industry count on streaming to save them.
Streaming services were once viewed as Hollywood’s saviors, promising endless content and an infinitely profitable business model. But that promise has failed to deliver.
After years of aggressive IP acquisition and production, platforms like Netflix are feeling the squeeze. Subscriber growth has slowed, budgets have been slashed, and executives are cutting back on original programming. As Bateman points out, the endless need for content has led to a glut of mediocre material that can’t sustain itself. The streaming bubble may finally be bursting, and with it, one of Hollywood’s most important revenue sources.
And messing with people’s money is the best way to get them mad.
The recent SAG-AFTRA and Writers Guild of America strikes have further disrupted Hollywood’s business model. These unions demand better compensation, more job security, and higher residuals in an industry where traditional revenue models are breaking down.
Bateman has voiced her support for these strikes, emphasizing that creatives are right to demand income security. But even if the unions win some concessions, there is a real chance that studios will simply double down on AI or outsource work to cheaper international markets, leaving Hollywood creatives with no future.
On the bright side, Hollywood’s decline may signal an opportunity for smaller independent creators. Platforms like YouTube, Kickstarter, and Patreon have allowed creatives of all kinds to reach audiences directly, bypassing traditional Hollywood gatekeepers. As younger audiences continue to shift their attention toward a wider variety of niche entertainment, Hollywood’s grip on popular culture weakens. Independent creators are now able to find loyal followings without the budget or infrastructure of a major studio, providing audiences with fresh alternatives.
So, what does all of this mean for the future of entertainment?
As it stands, Hollywood’s traditional model is being eroded by internal pressures, financial shortfalls, and a fractured media ecosystem. While the industry may continue to limp along for years, these factors suggest that a reckoning is coming. Old Hollywood may soon be replaced by a decentralized model whereby independent creators and streaming platforms drive entertainment. Major studio output could shrink to a handful of tentpole franchises while viewers increasingly turn to global, digital outlets for their entertainment needs.
Hollywood isn’t dead yet, but evidence is mounting that the industry as we know it is entering its twilight. The future of entertainment may be a world in which smaller, more agile creators deliver movies, music, and books directly to fans, leaving behind an industry that, for all its power and glamor, could not keep up with the times.
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Originally published here.
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