Friday, November 2nd, 2007

Cynopsis


11/02/07

Good afternoon. It’s still Friday, November 2, 2007 and here is your WGA strike update …

It’s official.  At a press conference held just minutes ago, WGA announced it would go on strike as of Monday, November 5th. 

The press conference was conducted by WGA West head Patric Verrone, WGA East’s Michael Winship and the WGA negotiating committee chair John Bowman.

As mentioned this morning, the first shows effected by the strike – late night talkers which depend on writers for their day and date opening monologues.  Those shows will likely go into repeats as soon as the strikers begin picketing.  The majority of the scripted TV series would begin to see the effects of a strike in 1st and 2nd qtr 2008.

The biggest issue facing the two sides of this debate right now are the DVD and new media residuals.  Currently the formula is based on the home video formula created years ago when VHS and the sale of home video movies were first introduced. That formula provides that the first 80% of the revenue from sale of VHS tapes (and now DVDs) goes to the cost of manufacturing and distribution, and of the remaining 20%, writers are awarded just 1.2%, or about 3 cents on every $20 VHS or DVD.  The WGA is now asking for their percentage to be based on 40% of the sale, and the same formula should be applied to all new media.

Later  — Cyn
11.02.07

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